JPMorgan Chase & Co. (NYSE: JPM) is a prominent global financial services firm based in New York City, primarily engaged in investment banking, consumer and commercial banking, financial transaction processing, and asset management. The firm reported significant financial results for the fourth quarter of 2024, indicating a stable condition with robust growth across several segments.

For Q4 2024, JPMorgan Chase reported a net income of $14 billion and earnings per share (EPS) of $4.81, marking a 50% increase in net income compared to $9.3 billion in Q4 2023. Total revenue for the quarter was $43.7 billion, up 10% year-over-year from $39.9 billion in the prior year. The return on tangible common equity (ROTCE) stood at 21%.

The bank witnessed impressive gains in its Commercial & Investment Bank (CIB) division, contributing a net income of $6.6 billion and revenues totaling $17.6 billion, representing an 18% increase from the prior year. This segment’s investment banking fees surged 49% year-on-year, benefitting from increased activity in advisory and underwriting, while markets revenue grew by 21% due to strong performance in both fixed income and equities.

Consumer and Community Banking (CCB) results indicated a minor decline with net income at $4.5 billion, down 6% from $4.8 billion in Q4 2023. CCB revenue was relatively flat at $18.4 billion, a slight increase of 1%. Card services reported a 14% rise in revenue, fueled by growth in card net interest income linked to higher revolving balances.

The Asset & Wealth Management (AWM) segment generated net income of $1.5 billion on $5.8 billion in revenue, showing a year-on-year increase of 13%. Assets under management (AUM) reached $4 trillion, an 18% increase from the previous year, while net inflows during the fourth quarter totaled $76 billion.

The company reported noninterest expenses of $22.8 billion, down 7% from $24.5 billion in the same quarter last year. Excluding prior year’s FDIC special assessments, expenses rose by 5%, largely due to compensation and technology costs.

Credit costs for the quarter totaled $2.6 billion, with net charge-offs of $2.4 billion, an increase from the previous year’s $2.2 billion. The net reserve build was $267 million.

The firm’s capital ratios remained strong, with a Common Equity Tier 1 (CET1) ratio of 15.7%, up 40 basis points from the prior quarter. The bank’s liquidity position was robust, with cash and marketable securities amounting to $1.4 trillion.

Looking ahead, JPMorgan Chase’s net interest income (NII) excluding markets is expected to be approximately $90 billion for 2025, amid indications of rate cuts and a forecasted decrease in deposit margins. The firm continues to anticipate stable deposit growth throughout the year.

In summary, JPMorgan Chase’s fourth-quarter results reflect a sustained growth trajectory with notable gains in key business segments, despite slight downward pressure in specific areas of consumer banking. The firm maintains a solid capital structure and a strong liquidity position.