J.P.Morgan 2Q23 Investor Results
JPMORGAN CHASE & CO.
CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)
CREDIT DATA AND QUALITY STATISTICS
Nonaccrual loans (a)(b)
Net charge-offs/(recoveries)
Banking & Wealth Management
Home Lending
Card Services
Auto
Total net charge-offs/(recoveries)
Net charge-off/(recovery) rate
Banking & Wealth Management (c)
Home Lending
Card Services
Auto
Total net charge-off/(recovery) rate
30+ day delinquency rate
Home Lending (d)(e)
Card Services
Auto
90+ day delinquency rate - Card Services
Allowance for loan losses
Banking & Wealth Management
Home Lending
Card Services
Auto
Total allowance for loan losses
$
$
$
$
2Q23
3,823
92
(28)
1,124
63
1,251
1.20 %
(0.05)
2.41
0.36
0.98
0.58 %
1.70
0.92
0.84
731
777 (g)
11,600
717
13,825
$
$
$
1Q23
3,835
79
(18)
922
69
1,052
1.12 %
(0.04)
2.07
0.41
0.96
0.81 %
1.68
0.90
0.83
$
$
720
427
11,400
716
13,263 (f) $
4Q22
QUARTERLY TRENDS
3,899
95
(33)
725
58
845
1.28 %
(0.08)
1.62
0.34
0.75
0.83 %
1.45
1.01
0.68
722
867
11,200
715
13,504
$
$
$
3Q22
3,936
105
(59)
592
41
679
1.35 %
(0.14)
1.40
0.24
0.62
0.78 %
1.23
0.75
0.57
722
667
10,400
715
12,504
$
$
$
$
2Q22
4,217
81
(68)
580
18
611
1.01
(0.16)
1.47
0.11
0.57
0.85 %
1.05
0.69
0.51
697
785
10,400
740
12,622
2Q23 Change
1Q23
- %
16
(56)
22
(9)
19
2
82
2
JPMORGAN CHASE & CO.
4
2Q22
(9)%
14
59
94
250
105
ܗ ܚ ܘ
(1)
(3)
10
$
$
$
$
2023
SIX MONTHS ENDED JUNE 30,
3,823
171
(46)
2,046
132
2,303
1.17 %
(0.05)
2.25
0.38
0.97
0.58 %
1.70
0.92
0.84
731
777 (g)
11,600
717
13,825
$
$
$
$
2022
4,217
170
(137)
1,086
45
1,164
1.04 %
(0.16)
1.42
0.13
0.55
0.85 %
1.05
0.69
0.51
697
785
10,400
740
12,622
2023 Change
2022
(9)%
1
66
88
193
98
5
(1)
12
(3)
10
(a) At June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, nonaccrual loans excluded mortgage loans 90 or more days past due and insured by U.S. government agencies of $139 million, $164 million, $187 million, $219 million and $257
million, respectively. These amounts have been excluded based upon the government guarantee. In addition, the Firm's policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance.
(b) Generally excludes loans that were under payment deferral programs offered in response to the COVID-19 pandemic.
(c) At June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022 included $163 million, $205 million, $350 million, $791 million and $1.5 billion of loans, respectively, under the PPP. Given that PPP loans are guaranteed by the SBA, the Firm does
not expect to realize material credit losses on these loans. Refer to pages 108-109 of the Firm's 2022 Form 10-K for further information on the PPP.
(d) At June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, the principal balance of loans under payment deferral programs offered in response to the COVID-19 pandemic was $177 million, $353 million, $449 million, $454 million and $513
million in Home Lending, respectively. Loans that are performing according to their modified terms are generally not considered delinquent.
(e) At June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $195 million, $219 million, $258 million, $284 million and $315 million,
respectively. These amounts have been excluded based upon the government guarantee.
(f) On January 1, 2023, the Firm adopted the Financial Instruments - Credit Losses: Troubled Debt Restructurings accounting guidance. The adoption of this guidance resulted in a net decrease in the allowance for loan losses of $591 million, driven by residential real estate and
credit card. Refer to Credit-related information on pages 27-28, and Note 1 of the Firm's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 for further information.
(g) As of June 30, 2023, includes $377 million associated with the First Republic acquisition.
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