JPMorgan Chase releases Q2 results
18 July 2019 New York
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JPMorgan Chase reported a record net income of $9.7 billion, or $2.82 per share, for Q2 2019.
The Q2 results also revealed that net revenue was $29.6 billion, up 4 percent.
Net interest income was $14.5 billion, up percent, driven by balance sheet growth and mix, as
well as the impact of higher rates.
Non interest revenue was $15.0 billion, up approximately $300 million, or 2 percent, driven by several notable items.
According to JPMorgan Chase, excluding these items, non interest revenue was relatively flat, with strength in consumer and community banking.
This was offset by lower investment banking fees in the Corporate & Investment Bank and commercial banking, as well as lower markets non interest revenue.
Non interest expense was $16.3 billion, up 2 percent, driven by continued investments in the business and higher auto lease depreciation, partially offset by lower Federal Deposit Insurance Corporation charges.
Meanwhile, in Asset & Wealth management, assets under management (AUM) were $2.2 trillion, up 7 percent , driven by inflows into both long-term and liquidity products and the impact
of higher market levels, JPMorgan Chase revealed.
Commenting on the financial results, Jamie Dimon, chairman and CEO, said: “We had a strong second quarter and first half of 2019, benefitting from our diversified global business model.”
Dimon added: “In the Corporate & Investment Bank, markets performance was relatively steady on slightly lower client volume, probably due to slightly higher global macroeconomic and geopolitical uncertainties. Treasury services and securities services demonstrated good organic growth despite headwinds from rates.”
“Although the global wallet was down, year-to-date the Firm ranked #1 in Global IB fees and gained share across products and regions, with particular strength from Commercial Banking, where gross IB revenue was up 8 percent for the first half of the year.”
He added: “And in Asset & Wealth Management, AUM and client assets grew 7 percent, both due to higher asset values and net inflows into long-term and liquidity products.”
The Q2 results also revealed that net revenue was $29.6 billion, up 4 percent.
Net interest income was $14.5 billion, up percent, driven by balance sheet growth and mix, as
well as the impact of higher rates.
Non interest revenue was $15.0 billion, up approximately $300 million, or 2 percent, driven by several notable items.
According to JPMorgan Chase, excluding these items, non interest revenue was relatively flat, with strength in consumer and community banking.
This was offset by lower investment banking fees in the Corporate & Investment Bank and commercial banking, as well as lower markets non interest revenue.
Non interest expense was $16.3 billion, up 2 percent, driven by continued investments in the business and higher auto lease depreciation, partially offset by lower Federal Deposit Insurance Corporation charges.
Meanwhile, in Asset & Wealth management, assets under management (AUM) were $2.2 trillion, up 7 percent , driven by inflows into both long-term and liquidity products and the impact
of higher market levels, JPMorgan Chase revealed.
Commenting on the financial results, Jamie Dimon, chairman and CEO, said: “We had a strong second quarter and first half of 2019, benefitting from our diversified global business model.”
Dimon added: “In the Corporate & Investment Bank, markets performance was relatively steady on slightly lower client volume, probably due to slightly higher global macroeconomic and geopolitical uncertainties. Treasury services and securities services demonstrated good organic growth despite headwinds from rates.”
“Although the global wallet was down, year-to-date the Firm ranked #1 in Global IB fees and gained share across products and regions, with particular strength from Commercial Banking, where gross IB revenue was up 8 percent for the first half of the year.”
He added: “And in Asset & Wealth Management, AUM and client assets grew 7 percent, both due to higher asset values and net inflows into long-term and liquidity products.”
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