On January 12, 2024, JPMorgan Chase & Co. reported its financial results for the fourth quarter of 2023, revealing a net income of $9.3 billion, or $3.04 per share. This represents a decrease from the $11.0 billion net income, or $3.57 per share, reported in the same quarter of the previous year. The report included a special FDIC assessment of $2.9 billion, which reduced earnings per share by $0.74. Despite the decline, the firm achieved a full-year net income of $49.6 billion, or $16.23 per share, with a return on equity (ROE) of 12% and a return on tangible common equity (ROTCE) of 15%. JPMorgan Chase's balance sheet remained robust, with a CET1 ratio of 15.0% and total loss-absorbing capacity of $514 billion. The firm's Chairman and CEO, Jamie Dimon, commented on the...Show More

On January 12, 2024, JPMorgan Chase & Co. reported its financial results for the fourth quarter of 2023, revealing a net income of $9.3 billion, or $3.04 per share. This represents a decrease from the $11.0 billion net income, or $3.57 per share, reported in the same quarter of the previous year. The report included a special FDIC assessment of $2.9 billion, which reduced earnings per share by $0.74. Despite the decline, the firm achieved a full-year net income of $49.6 billion, or $16.23 per share, with a return on equity (ROE) of 12% and a return on tangible common equity (ROTCE) of 15%. JPMorgan Chase's balance sheet remained robust, with a CET1 ratio of 15.0% and total loss-absorbing capacity of $514 billion. The firm's Chairman and CEO, Jamie Dimon, commented on the solid quarter and record results for 2023, attributing them to over-earning on net interest income (NII) and credit. Dimon also highlighted the firm's strong balance sheet and expressed concerns over potential regulatory and legislative proposals that could impact consumers, businesses, and markets. The report also detailed the firm's credit and capital raising activities, which totaled $2.3 trillion for the year, and its continued growth across various segments. JPMorgan Chase's earnings release and financial supplement are available on its website, and the firm will host a conference call to discuss the results.