JPMorgan Chase & Co. (NYSE: JPM) is a major financial services firm based in the United States, recognized for its broad operations across investment banking, commercial banking, and asset management, with total assets of approximately $4.0 trillion as of December 31, 2024.

In the fourth quarter of 2024, JPMorgan reported a net income of $14.0 billion, reflecting a 50% increase from $9.3 billion in the same quarter the previous year. Earnings per share for the quarter rose to $4.81, up from $3.04 year-on-year, marking a 58% improvement. The firm’s total net revenue for the quarter increased by 10% to $43.7 billion compared to $39.9 billion in fourth quarter 2023. For the full year, JPMorgan achieved a record net income of $58.5 billion ($19.75 per share).

The firm’s return on equity (ROE) for the fourth quarter was 17%, and the return on tangible common equity (ROTCE) was 21%. The average loans grew by 2% year-over-year, resulting in average loans of $1.3 trillion for the fourth quarter, while average deposits also saw a 2% increase to $2.4 trillion. Managed revenue for the full year reached $180.6 billion, a rise of 11% from $162.4 billion in 2023.

JPMorgan’s noninterest expenses in the fourth quarter totaled $22.8 billion, down 7% from $24.5 billion a year earlier. The overhead ratio stood at 53% for the quarter, consistent with previous year’s figures, while the managed overhead ratio was reported at 52%.

The provision for credit losses amounted to $2.6 billion in the quarter, a decrease from $2.8 billion in the prior year, with net charge-offs of $2.4 billion reflecting an increase driven by growth in Card Services. The total allowance for credit losses at the end of the quarter was reported at approximately $16.5 billion.

In terms of capital, JPMorgan maintained a strong capital position with a common equity Tier 1 (CET1) capital ratio of 15.7% and total loss-absorbing capacity of $547 billion, reflecting the firm’s capacity to absorb losses and support sustainable growth.

Overall, JPMorgan’s solid fourth-quarter performance, alongside its record annual figures, indicates continued resiliency and stability in the financial services market. Its ability to navigate evolving economic conditions has positioned it favorably for future opportunities.