JPMORGAN CHASE REPORTS SECOND-QUARTER 2023 NET INCOME OF $14.5 BILLION ($4.75 PER SHARE)
EXCLUDING SIGNIFICANT ITEMS
2
, NET INCOME WAS $13.3 BILLION ($4.37 PER SHARE)
SECOND-QUARTER 2023 RESULTS
1
ROE 20%
ROTCE
2
25%
CET1 Capital Ratios
3
Std. 13.8% | Adv. 13.9%
Total Loss-Absorbing Capacity
3
$494B
Std. RWA
3
$1.7T
Cash and marketable securities
4
$1.4T
Average loans $1.2T
Firmwide
Metrics
n
Reported revenue of $41.3 billion and managed
revenue of $42.4 billion
2
n
Credit costs of $2.9 billion included a $1.5 billion net
reserve build and $1.4 billion of net charge-offs
n
Average loans up 13%; average deposits down 6%
CCB
ROE 38%
n
Average deposits down 2%; client investment assets
up 42%
n
Average loans up 19% YoY and 15% QoQ; Card
Services net charge-off rate of 2.41%
n
Debit and credit card sales volume
5
up 7%
n
Active mobile customers
6
up 10%
CIB
ROE 15%
n
#1 ranking for Global Investment Banking fees with
8.4% wallet share YTD
n
Total Markets revenue of $7.0 billion, down 10%,
with Fixed Income Markets down 3% and Equity
Markets down 20%
CB
ROE 16%
n
Gross Investment Banking and Markets revenue
7
of
$767 million, down 3%
n
Average loans up 23% YoY and up 14% QoQ;
average deposits down 8%
AWM
ROE 29%
n
Assets under management (AUM) of $3.2 trillion,
up 16%
n
Average loans up 1% YoY and up 4% QoQ; average
deposits down 21%
Jamie Dimon, Chairman and CEO, commented on the financial results: “We
reported another quarter of strong results, generating net income of $13.3 billion
and an ROTCE of 23% after excluding a net after-tax gain of $1.8 billion relating to
the First Republic transaction, as well as discretionary after-tax investment
securities losses of $0.7 billion. Even after the First Republic transaction, we
maintained an extraordinarily strong CET1 capital ratio of 13.8% and had $1.4
trillion in cash and marketable securities. While we expect material capital changes
with the finalization of Basel III and probable changes to come for bank liquidity, we
will manage to any new requirements as we have demonstrated in the past; however,
we caution that material regulatory changes would likely have real world
consequences for markets and end users.”
Dimon continued: “Almost all of our lines of business saw continued growth in the
quarter. In Consumer & Community Banking, new checking account production was
very strong, while card loans were up 18%. In the Corporate & Investment Bank,
Investment Banking fees remained challenged, although we gained market share
YTD. In Commercial Banking, Payments revenue remained very strong and grew
79%. Finally, Asset & Wealth Management had record long-term inflows of $61
billion, with inflows across channels, regions, and asset classes.”
Dimon added: “The U.S. economy continues to be resilient. Consumer balance
sheets remain healthy, and consumers are spending, albeit a little more slowly.
Labor markets have softened somewhat, but job growth remains strong. That being
said, there are still salient risks in the immediate view—many of which I have
written about over the past year. Consumers are slowly using up their cash buffers,
core inflation has been stubbornly high (increasing the risk that interest rates go
higher, and stay higher for longer), quantitative tightening of this scale has never
occurred, fiscal deficits are large, and the war in Ukraine continues, which in
addition to the huge humanitarian crisis for Ukrainians, has large potential effects
on geopolitics and the global economy. While we cannot predict with any certainty
how these factors will play out, we are currently managing the Firm to reliably meet
the needs of our customers and clients in all environments.”
Dimon concluded: “I want to welcome our new First Republic colleagues and thank
all of our employees. They did an extraordinary job serving our new First Republic
clients, and they worked around the clock to onboard an unprecedented number of
new clients across all lines of business as a result of the recent banking turmoil. The
efforts by our employees also enabled us to extend credit and raise $1.2 trillion in
capital in the first half of 2023 for businesses, governments, and U.S. consumers.”
SIGNIFICANT ITEMS
n 2Q23 results included:
n $2.7 billion First Republic
8
bargain purchase gain in Corporate ($0.91
increase in earnings per share (EPS))
n $1.2 billion net credit reserve build for First Republic ($0.30 decrease in EPS)
n $900 million net investment securities losses in Corporate ($0.23 decrease in
EPS)
n Excluding significant items
2
: 2Q23 net income of $13.3 billion, EPS of $4.37
and ROTCE of 23%
CAPITAL DISTRIBUTED
n Common dividend of $2.9 billion or $1.00 per share
n $1.8 billion of common stock net repurchases
9
n Net payout LTM
9,10
of 32%
FORTRESS PRINCIPLES
n Book value per share of $98.11, up 14%; tangible book value per share
2
of
$79.90, up 15%
n Basel III common equity Tier 1 capital
3
of $236 billion and Standardized ratio
3
of
13.8%; Advanced ratio
3
of 13.9%
n Firm supplementary leverage ratio of 5.8%
OPERATING LEVERAGE
n 2Q23 expense of $20.8 billion; reported overhead ratio of 50%; managed
overhead ratio
2
of 49%
SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES
n $1.2 trillion of credit and capital
11
raised YTD
n $120 billion of credit for consumers
n $17 billion of credit for U.S. small businesses
n $520 billion of credit for corporations
n $535 billion of capital raised for corporate clients and non-U.S. government
entities
n $24 billion of credit and capital raised for nonprofit and U.S. government
entities, including states, municipalities, hospitals and universities
Exhibit 99.1
JPMorgan Chase & Co.
383 Madison Avenue, New York, NY 10179-0001
NYSE symbol: JPM
www.jpmorganchase.com
Investor Contact: Mikael Grubb (212) 270-2479
Note: Totals may not sum due to rounding.
1
Percentage comparisons noted in the bullet points are for the second quarter of 2023 versus the
prior-year second quarter, unless otherwise specified.
2
For notes on non-GAAP financial measures, including managed basis reporting, see page 6.
For additional notes see page 7.
Media Contact: Joseph Evangelisti (212) 270-7438
In the discussion below of Firmwide results of JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”), information is
presented on a managed basis, which is a non-GAAP financial measure, unless otherwise specified. The discussion below of the
Firm’s business segments is also presented on a managed basis. For more information about managed basis, and non-GAAP
financial measures used by management to evaluate the performance of each line of business, refer to page 6.
Comparisons noted in the sections below are for the second quarter of 2023 versus the prior-year second quarter, unless
otherwise specified.
JPMORGAN CHASE (JPM)
Results for JPM 1Q23 2Q22
($ millions, except per share data) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue - reported
$ 41,307 $ 38,349 $ 30,715 $ 2,958 8 % $ 10,592 34 %
Net revenue - managed
42,401 39,336 31,630 3,065 8 10,771 34
Noninterest expense
20,822 20,107 18,749 715 4 2,073 11
Provision for credit losses
2,899 2,275 1,101 624 27 1,798 163
Net income
$ 14,472 $ 12,622 $ 8,649 $ 1,850 15 % $ 5,823 67 %
Earnings per share - diluted
$ 4.75 $ 4.10 $ 2.76 $ 0.65 16 % $ 1.99 72 %
Return on common equity
20 % 18 % 13 %
Return on tangible common equity
25 23 17
Discussion of Results:
Net income was $14.5 billion, up 67%, or up 40% excluding First Republic.
Net revenue was $42.4 billion, up 34%, or up 21% excluding First Republic. Net interest income (NII) was $21.9 billion, up
44%, or up 38% excluding First Republic. NII excluding Markets
2
was $22.4 billion, up 63%, or up 57% excluding First
Republic, predominantly driven by higher rates, partially offset by lower deposit balances. Noninterest revenue was $20.5
billion, up 25%, or up 6% excluding First Republic, predominantly driven by higher CIB Markets noninterest revenue and the
absence of certain losses in Payments in the prior year, partially offset by higher net investment securities losses in Corporate.
Noninterest expense was $20.8 billion, up 11%, or up 8% excluding First Republic, driven by higher compensation expense,
including front office hiring and wage inflation, as well as technology and marketing investments and higher legal expense.
The provision for credit losses was $2.9 billion. Excluding First Republic, the provision was $1.7 billion, reflecting net charge-
offs of $1.4 billion and a net reserve build of $326 million. The net reserve build included $389 million in Commercial Banking
and $200 million in Card Services, partially offset by a $243 million release in Corporate. Net charge-offs of $1.4 billion were
up $754 million, largely driven by Card Services.
Net income attributable to First Republic was $2.4 billion in the quarter. This included an estimated bargain purchase gain of
$2.7 billion, and a provision for credit losses of $1.2 billion to establish a reserve for the acquired First Republic lending
portfolio. During the two months ending June 30, 2023, there was an additional $897 million of net interest income, $436
million of noninterest revenue and $599 million of expense that were attributable to First Republic. For additional information,
see note 8 on page 7.
JPMorgan Chase & Co.
News Release
2
CONSUMER & COMMUNITY BANKING (CCB)
Results for CCB 1Q23 2Q22
($ millions) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
$ 17,233 $ 16,456 $ 12,558 $ 777 5 % $ 4,675 37 %
Banking & Wealth Management
12
10,936 10,041 6,502 895 9 4,434 68
Home Lending
1,007 720 1,001 287 40 6 1
Card Services & Auto
5,290 5,695 5,055 (405) (7) 235 5
Noninterest expense
12
8,313 8,065 7,658 248 3 655 9
Provision for credit losses
1,862 1,402 761 460 33 1,101 145
Net income
$ 5,306 $ 5,243 $ 3,108 $ 63 1 % $ 2,198 71 %
Discussion of Results:
Net income was $5.3 billion, up 71%, or up 61% excluding First Republic. Net revenue was $17.2 billion, up 37%, or up 31%
excluding First Republic.
Banking & Wealth Management net revenue was $10.9 billion, up 68%, or up 59% excluding First Republic, driven by higher
deposit margins on lower balances. Home Lending net revenue was $1.0 billion, up 1%, or down 23% excluding First Republic,
driven by lower net interest income from tighter loan spreads and lower servicing and production revenue. Card Services &
Auto net revenue was $5.3 billion, up 5%, largely driven by higher Card Services net interest income on higher revolving
balances, largely offset by lower auto operating lease income and card net interchange.
Noninterest expense was $8.3 billion, up 9%, or up 8% excluding First Republic, largely driven by higher compensation,
including wage inflation and headcount growth as the Firm continues to invest in front office and technology staffing, as well as
higher marketing, partially offset by lower auto lease depreciation.
The provision for credit losses was $1.9 billion and included a $408 million reserve established for the First Republic portfolio.
Excluding First Republic, the provision was $1.5 billion, reflecting net charge-offs of $1.3 billion. The net reserve build of $203
million was predominantly driven by loan growth in Card Services and changes in specific macroeconomic factors, largely
offset by reduced borrower uncertainty. Net charge-offs of $1.3 billion were up $640 million YoY, predominantly driven by
Card Services, as 30+ day delinquencies have returned to pre-pandemic levels.
JPMorgan Chase & Co.
News Release
3
CORPORATE & INVESTMENT BANK (CIB)
Results for CIB 1Q23 2Q22
($ millions) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
$ 12,519 $ 13,600 $ 12,003 $ (1,081) (8) % $ 516 4 %
Banking
12
4,244 4,223 3,280 21 — 964 29
Markets & Securities Services
8,275 9,377 8,723 (1,102) (12) (448) (5)
Noninterest expense
12
6,894 7,483 6,810 (589) (8) 84 1
Provision for credit losses
38 58 59 (20) (34) (21) (36)
Net income
$ 4,092 $ 4,421 $ 3,717 $ (329) (7) % $ 375 10 %
Discussion of Results:
Net income was $4.1 billion, up 10%, with net revenue of $12.5 billion, up 4%.
Banking revenue was $4.2 billion, up 29%. Investment Banking revenue was $1.5 billion, up 11%. Excluding markdowns on
held-for-sale positions in the bridge book
13
in the prior year, Investment Banking revenue was down 7%. Investment Banking
fees were down 6%, driven by lower advisory fees. Payments revenue was $2.5 billion, up 61%. Excluding the net impact of
equity investments, primarily markdowns in the prior year, Payments revenue was up 32%, predominantly driven by higher
rates, partially offset by lower deposit balances. Lending revenue was $299 million, down 27%, predominantly driven by mark-
to-market losses on hedges of retained loans, partially offset by higher net interest income.
Markets & Securities Services revenue was $8.3 billion, down 5%. Markets revenue was $7.0 billion, down 10%. Fixed Income
Markets revenue was $4.6 billion, down 3%, reflecting lower revenue in macro businesses, largely offset by higher revenue in
the Securitized Products Group
14
and Credit. Equity Markets revenue was $2.5 billion, down 20%, compared with a strong
second quarter in the prior year. Securities Services revenue was $1.2 billion, up 6%, driven by higher rates, largely offset by
lower fees and deposit balances.
Noninterest expense was $6.9 billion, up 1%, driven by higher non-compensation expense, as well as wage inflation and
headcount growth, largely offset by lower revenue-related compensation.
The provision for credit losses was $38 million, including net charge-offs of $56 million.
COMMERCIAL BANKING (CB)
Results for CB 1Q23 2Q22
($ millions) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
$ 3,988 $ 3,511 $ 2,683 $ 477 14 % $ 1,305 49 %
Noninterest expense
1,300 1,308 1,156 (8) (1) 144 12
Provision for credit losses
1,097 417 209 680 163 888 425
Net income
$ 1,208 $ 1,347 $ 994 $ (139) (10) % $ 214 22 %
Discussion of Results:
Net income was $1.2 billion, up 22%, or up 54% excluding First Republic.
Net revenue was $4.0 billion, up 49%, or up 42% excluding First Republic, predominantly driven by higher deposit margins,
partially offset by lower deposit-related fees.
Noninterest expense was $1.3 billion, up 12%, predominantly driven by higher compensation, including front office hiring and
technology investments, as well as higher volume-related expense.
The provision for credit losses was $1.1 billion and included a $608 million reserve established for the First Republic portfolio.
Excluding First Republic, the provision was $489 million, reflecting a net reserve build of $389 million, driven by updates to
certain assumptions related to office real estate, as well as net downgrade activity in Middle Market. Net charge-offs of $100
million were predominantly driven by office real estate.
JPMorgan Chase & Co.
News Release
4
ASSET & WEALTH MANAGEMENT (AWM)
Results for AWM 1Q23 2Q22
($ millions) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
$ 4,943 $ 4,784 $ 4,306 $ 159 3 % $ 637 15 %
Noninterest expense
3,163 3,091 2,919 72 2 244 8
Provision for credit losses
145 28 44 117 418 101 230
Net income
$ 1,226 $ 1,367 $ 1,004 $ (141) (10) % $ 222 22 %
Discussion of Results:
Net income was $1.2 billion, up 22%, or up 10% excluding First Republic.
Net revenue was $4.9 billion, up 15%, or up 8% excluding First Republic, driven by higher deposit margins on lower balances
and higher management fees on strong net inflows.
Noninterest expense was $3.2 billion, up 8%, driven by higher compensation, including growth in private banking advisor
teams, higher revenue-related compensation and the impact of Global Shares and J.P. Morgan Asset Management China.
The provision for credit losses was $145 million, driven by a $146 million reserve established for the First Republic portfolio.
Assets under management were $3.2 trillion, up 16%, and client assets were $4.6 trillion, up 20%, driven by continued net
inflows, higher market levels and the impact of the acquisition of Global Shares.
CORPORATE
Results for Corporate 1Q23 2Q22
($ millions) 2Q23 1Q23 2Q22 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
$ 3,718 $ 985 $ 80 $ 2,733 277 % $ 3,638 NM
Noninterest expense
1,152 160 206 992 NM 946 459
Provision for credit losses
(243) 370 28 (613) NM (271) NM
Net income/(loss)
$ 2,640 $ 244 $ (174) $ 2,396 NM $ 2,814 NM
Discussion of Results:
Net income was $2.6 billion, or $339 million excluding First Republic, compared with a net loss of $174 million in the prior
year.
Net revenue was $3.7 billion and included an estimated bargain purchase gain of $2.7 billion attributable to First Republic.
Excluding First Republic, net revenue was $1.0 billion. Net interest income was $1.7 billion, compared with $324 million in the
prior year, due to the impact of higher rates. The current quarter also included $900 million of net investment securities losses,
compared with $153 million of net losses in the prior year. Investment securities losses reflected net losses on sales of U.S.
Treasuries and mortgage-backed securities.
Noninterest expense was $1.2 billion, up $946 million, or up $384 million excluding First Republic, largely driven by higher
legal expense.
The provision for credit losses was a net benefit of $243 million, reflecting a reserve release associated with the deposit placed
with First Republic Bank in the first quarter of 2023.
JPMorgan Chase & Co.
News Release
5
2. Notes on non-GAAP financial measures:
a. The Firm prepares its Consolidated Financial Statements in accordance with accounting principles generally accepted in
the U.S. (“U.S. GAAP”). That presentation, which is referred to as “reported” basis, provides the reader with an
understanding of the Firm’s results that can be tracked consistently from year-to-year and enables a comparison of the
Firm’s performance with the U.S. GAAP financial statements of other companies. In addition to analyzing the Firm’s
results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis;
these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of
business on a managed basis. The Firm’s definition of managed basis starts, in each case, with the reported U.S. GAAP
results and includes certain reclassifications to present total net revenue for the Firm and each of the reportable business
segments on a fully taxable-equivalent basis. Accordingly, revenue from investments that receive tax credits and tax-
exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These
financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable
and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax
expense. These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business.
For a reconciliation of the Firm’s results from a reported to managed basis, refer to page 7 of the Earnings Release
Financial Supplement.
b. Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share
(“TBVPS”) are each non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total
stockholders’ equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing
rights), net of related deferred tax liabilities. For a reconciliation from common stockholders’ equity to TCE, refer to page
10 of the Earnings Release Financial Supplement. ROTCE measures the Firm’s net income applicable to common equity as
a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by common shares at period-end.
Book value per share was $98.11, $94.34 and $86.38 at June 30, 2023, March 31, 2023, and June 30, 2022, respectively.
TCE, ROTCE, and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm’s use of equity.
c. In addition to reviewing net interest income (“NII”) and noninterest revenue (“NIR”) on a managed basis, management also
reviews these metrics excluding CIB Markets (“Markets”, which is composed of Fixed Income Markets and Equity
Markets). Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest
income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to
assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising
activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets
business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that
generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions
revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the
revenue trends of the Firm. For a reconciliation of NII and NIR from reported to excluding Markets, refer to page 29 of the
Earnings Release Financial Supplement. For additional information on Markets revenue, refer to page 70 of the Firm’s
2022 Form 10-K.
d. Second-quarter 2023 net income, earnings per share and ROTCE excluding significant items are non-GAAP financial
measures. Significant items collectively refer to the bargain purchase gain associated with First Republic of $2.7 billion,
the net credit reserve build associated with First Republic of $1.2 billion and net investment securities losses of $900
million. Excluding these significant items resulted in a decrease of $1.1 billion (after tax) to reported net income from
$14.5 billion to $13.3 billion; a decrease of $0.38 per share to reported EPS from $4.75 to $4.37; and a decrease of 2% to
ROTCE from 25% to 23%. Management believes these measures provide useful information to investors and analysts in
assessing the Firm’s results.
JPMorgan Chase & Co.
News Release
6
Additional notes:
3. Estimated. Reflects the Current Expected Credit Losses (“CECL”) capital transition provisions. Beginning January 1, 2022,
the $2.9 billion CECL capital benefit is being phased out at 25% per year over a three-year period. As of June 30, 2023,
CET1 capital and Total Loss-Absorbing Capacity reflected the remaining $1.4 billion CECL benefit. Refer to Capital Risk
Management on pages 36-41 of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023
and on pages 86-96 of the Firm’s 2022 Form 10-K for additional information.
4. Estimated. Cash and marketable securities includes end-of-period eligible high-quality liquid assets (“HQLA”), excluding
regulatory prescribed haircuts under the liquidity coverage ratio (“LCR”) rule where applicable, for both the Firm and the
excess HQLA-eligible securities which are included as part of the excess liquidity at JPMorgan Chase Bank, N.A. that are
not transferable to non-bank affiliates and thus excluded from the Firm’s LCR. Also includes other end-of-period
unencumbered marketable securities, such as equity and debt securities. Does not include borrowing capacity at Federal
Home Loan Banks and the discount window at the Federal Reserve Bank. The presentation in prior periods reflected
average eligible Firm HQLA rather than end-of-period eligible Firm HQLA. Refer to Liquidity Risk Management on pages
42-47 of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 and on pages 97-104 of
the Firm’s 2022 Form 10-K for additional information.
5. Excludes Commercial Card.
6. Users of all mobile platforms who have logged in within the past 90 days. As of June 30, 2023, excludes the impact of the
First Republic acquisition.
7. Includes gross revenues earned by the Firm, that are subject to a revenue sharing arrangement with the CIB, for Investment
Banking and Markets’ products sold to CB clients. This includes revenues related to fixed income and equity markets
products. Refer to page 61 of the Firm’s 2022 Form 10-K for discussion of revenue sharing.
8. On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank (the “First
Republic acquisition") from the Federal Deposit Insurance Corporation (“FDIC”) resulting in an estimated bargain
purchase gain of $2.7 billion recorded in other income. All references in this press release to “excluding First Republic” or
“attributable to First Republic” refer to excluding or including, as applicable, the relevant effects of the First Republic
acquisition. In the second quarter of 2023, expense attributable to First Republic was substantially all in Corporate.
9. Includes the net impact of employee issuances.
10. Last twelve months (“LTM”).
11. Credit provided to clients represents new and renewed credit, including loans and lending-related commitments.
12. In the first quarter of 2023, the allocations of revenue and expense to CCB associated with a Merchant Services revenue
sharing agreement were discontinued and are now retained in Payments in CIB. Prior-period amounts have been revised to
conform with the current presentation.
13. The bridge book consists of certain held-for-sale positions, including unfunded commitments, in CIB.
14. Securitized Products Group is comprised of Securitized Products and Tax Oriented Investments.
JPMorgan Chase & Co.
News Release
7
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with
operations worldwide. JPMorgan Chase had $3.9 trillion in assets and $313 billion in stockholders’ equity as of June 30, 2023.
The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking,
financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of
customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients
globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
JPMorgan Chase & Co. will host a conference call today, July 14, 2023, at 8:30 a.m. (EDT) to present second-quarter 2023
financial results. The general public can access the call by dialing (888) 324-3618 in the U.S. and Canada, or (312) 470-7119
for international callers; use passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast
and presentation slides will be available on the Firm’s website, www.jpmorganchase.com, under Investor Relations, Events &
Presentations.
A replay of the conference call will be available beginning at approximately 11:00 a.m. (EDT) on July 14, 2023 through 11:59
p.m. (EDT) on July 28, 2023 by telephone at (866) 511-1892 (U.S. and Canada) or (203) 369-1947 (international); use passcode
14632#. The replay will also be available via webcast on www.jpmorganchase.com under Investor Relations, Events &
Presentations. Additional detailed financial, statistical and business-related information is included in a financial supplement.
The earnings release and the financial supplement are available at www.jpmorganchase.com.
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are
subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-
looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31,
2022 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, which have been filed with the
Securities and Exchange Commission and is available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-
web.com/financial-information/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov).
JPMorgan Chase & Co. does not undertake to update any forward-looking statements.
JPMorgan Chase & Co.
News Release
8
