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Business, Finance, Occupation & Industry

JPMorgan Chase Reports Record First-Quarter 2013 Net Income of $6.5 Billion, or a Record $1.59 Per S

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By Business Wirevia The Motley Fool

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JPMorgan Chase Reports Record First-Quarter 2013 Net Income of $6.5 Billion, or a Record $1.59 Per Share, on Revenue 1 of $25.8 Billion

17% Return on Tangible Common Equity 1

Supported Consumers, Businesses and Communities

NEW YORK–(BUSINESS WIRE)– JPMorgan Chase & Co. (NYS: JPM) :

  • Strong performance across all businesses 2

    • Consumer & Community Banking deposits were up 10%; mortgage originations were up 37% to $52.7 billion; Credit Card sales volume 1 was up 9%
    • Corporate & Investment Bank reported strong performance across products and maintained its #1 ranking for Global Investment Banking fees; assets under custody were up 8% to $19.3 trillion
    • Asset Management achieved its sixteenth consecutive quarter of positive net long-term client flows, a record of $31 billion for the first quarter; assets under supervision were a record $2.2 trillion; loan balances were up 27% to a record $81.4 billion
  • The Board intends to increase the second-quarter common stock dividend to $0.38 per share 3 from the current $0.30 per share; the Firm repurchased $2.6 billion of common equity in the first quarter and is authorized to repurchase an additional $6 billion of common equity through the first quarter of 2014
  • Fortress balance sheet strengthened

    • Basel I Tier 1 common 1 of $143 billion, or 10.2%
    • Estimated Basel III Tier 1 common 1 of 8.9% 4 , up from 8.7% in the prior quarter
    • High Quality Liquid Assets 5 of $413 billion
  • First-quarter results included the following significant items

    • $650 million pretax benefit ($0.10 per share after-tax increase in earnings) from reduced mortgage loan loss reserves in Real Estate Portfolios
    • $500 million pretax benefit ($0.08 per share after-tax increase in earnings) from reduced credit card loan loss reserves in Card Services
Business, Finance, Occupation & Industry

JPMorgan Chase to Present at the UBS Global Financial Services Conference

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By Business Wirevia The Motley Fool

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JPMorgan Chase to Present at the UBS Global Financial Services Conference

NEW YORK–(BUSINESS WIRE)– Mike Cavanagh, Co-Chief Executive Officer of Corporate & Investment Bank at JPMorgan Chase & Co., will present at the UBS Global Financial Services Conference at Crowne Plaza Times Square Manhattan on Tuesday, May 14, 2013 at 8:15 a.m. (Eastern).

A live audio webcast will be posted on the day of the conference to www.jpmorganchase.com under Investor Relations, Investor Presentations.

JPMorgan Chase & Co. (NYS: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

JPMorgan Chase & Co.
Investors:
Sarah M. Youngwood, 212-270-7325
or
Media:
Joe Evangelisti, 212-270-7438

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Business, Finance, Occupation & Industry

U.S. Ex-Im Bank Recognizes JPMorgan Chase for Its Commitment to Helping Businesses Grow

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By Business Wirevia The Motley Fool

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U.S. Ex-Im Bank Recognizes JPMorgan Chase for Its Commitment to Helping Businesses Grow

J.P. Morgan awarded Ex-Im Bank Lender of the Year; financed $291 million in 2012

Chase lent $20 billion to American small businesses in 2012, third consecutive year as #1 SBA lender

NEW YORK–(BUSINESS WIRE)– In recognition of its commitment to helping the economy grow and support small and medium-sized businesses in the U.S., J.P. Morgan today received the Lender of the Year award from the Export-Import Bank of the United States (Ex-Im Bank).

In 2012, J.P. Morgan employed more than $291 million of the Ex-Im Bank’s Working Capital product, a program that helps J.P. Morgan extend credit for the export of U.S. goods and services by allowing the bank to accept trade-related inventory as collateral. Last year, $181 million went toward supporting small businesses. J.P. Morgan has consistently been among the top five most active users of Ex-Im Bank’s Working Capital program.

“J.P. Morgan has done a terrific job of reaching small- and medium-sized businesses,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “We look forward to continuing our work with J.P. Morgan and ensuring that American exporters have access to the financing they need to grow their companies and succeed in the international market.”

“Our Global Trade business is proud to support so many small and mid-sized companies by lending to corporations around the globe,” said Daniel Cotti, J.P. Morgan’s head of global trade for the Corporate & Investment Bank. “The US Ex-Im Bank has been a critical partner so that our financing activities ultimately support the growth of American businesses and exports. We plan to increase our engagement even further in the months and years to come.”

The Lender of the Year award from Ex-Im Bank follows the U.S. Small Business Administration‘s announcement that Chase was its #1 lender by approved units. Overall, Chase provided more than $20 billion in new credit to American small businesses in 2012, up 18% from the prior year, and increased its lending to middle market companies for the 11th consecutive quarter.

“JPMorgan Chase is committed to helping small and medium-sized businesses grow and compete in the global marketplace,” said Scott Geller, CEO of Chase Business Banking. “We are proud of the work we’ve done and are continuing to do our …read more

Source: FULL ARTICLE at DailyFinance