JPMorgan Chase Reports Q3 Results -$25.3B Revs, NI $6.7B OR $1.76/Sh
Leading global financial services firm with assets of $2.6 trillion & operations worldwide, JPMorgan Chase & Co. (NYSE: JPM), reported Q3 results with $25.3 billion & managed revenue of $26.2 billion & net income of $6.7 Billion (a 7% increase), or $1.76 per share. Average core loans were up 8%, average deposits of $646 billion were up 9%.
Jamie Dimon, Chairman, and CEO, commented on the financial results: “JPMorgan Chase delivered solid results in a competitive environment this quarter with steady core growth across the platform. And for the first time, the Firm led the nation in total U.S. deposits, as consumers and businesses continue to view us as their partner of choice.”
Dimon added: “In Consumer & Community Banking, card sales and merchant processing volumes were once again up double digits, while loans and deposits continued to grow strongly. In the Corporate & Investment Bank, we continued to lead our peers in Investment Banking fees, and Treasury Services and Securities Services each generated over $1 billion in revenue. Commercial Banking again delivered outstanding performance with record revenue as our long-term investments in the business are paying off. Our Asset & Wealth Management business delivered strong results with record net income and AUM this quarter.”
Dimon concluded: “The global economy continues to do well and the U.S. consumer remains healthy with solid wage growth. Unfortunately, natural disasters in the U.S. and abroad have impacted many of our customers and we have responded with enormous financial support as well as the expertise and generosity of our employees to help these customers, clients, and communities. Building on our success to-date in Detroit, we have announced new initiatives in Chicago and Washington, D.C. to drive inclusive economic growth in those communities. We will be there to do our part. And this is in addition to the $1.7 trillion of credit and capital supplied this year to consumers and small and mid-sized businesses and corporate clients.”