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

• From: http://www.dailyfinance.com/2013/04/12/jpmorgan-chase-reports-record-first-quarter-2013-n/