The company reported net income for 2023 of $49.6 billion (up 32%), earnings per share of $16.23, ROE of 17% and ROTCE of 21%.

1. 01

   The company reported net income for 2023 of $49.6 billion (up 32%), earnings per share of $16.23, ROE of 17% and ROTCE of 21%.

2. 02

   JPMorgan Chase said net interest income for 2023 rose 34% to $89.3 billion. It cited higher rates, the impact of First Republic and higher revolving balances in Card Services as drivers, partially offset by lower Markets net interest income and lower average deposit balances.

3. 03

   The company said it acquired certain assets and assumed certain liabilities of First Republic Bank from the FDIC on May 1, 2023. It cited an estimated bargain purchase gain of $2.8 billion as a factor in the increase in other income.

4. 04

   The company said the provision for credit losses for 2023 was $9.3 billion, consisting of net charge-offs of $6.2 billion and a net addition to the allowance for credit losses of $3.1 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$158.1B

Net income

$49.6B

EPS

$16.23

Operating cash flow

$13.0B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.