JPMorgan Chase has reported quarterly net income of $16.5bn for the first quarter of 2026, a 13% increase from $14.6bn a year earlier.
Net revenue totalled $50.5bn, up 10%, while net interest income came in at $25.5bn, up 9%.
It reported expenses of $26.9bn during the quarter, while its provision for credit losses reached $2.5bn.
The banking giant’s asset & wealth management (AWM) unit reported net income of $1.8bn, up 12% year-on-year.
Net revenue was $6.4bn, up 11%, mainly due to higher management fees linked to strong net inflows and higher average market levels, alongside higher brokerage activity.
Assets under management grew 16% to $4.8tn, while client assets rose 18% to $7.1tn, driven by higher market levels and continued net inflows.
Commercial & Investment Bank (CIB) arm posted net income of $9bn, up 30%, with net revenue of $23.4bn, which represents an increase of 19%.
Investment banking revenue grew 38% year-on-year to $3.1bn.
Investment banking fees were $2.9bn, up 28% compared to last year, led by higher advisory and equity underwriting fees, partly offset by lower debt underwriting fees.
JPMorgan Chase chairman and CEO Jamie Dimon commented: “The firm delivered strong results in the first quarter, reporting net income of $16.5bn.”
Dimon added: “Regarding capital, we were pleased to see that the recent capital re-proposals mitigated the most severe consequences of the 2023 proposals. However, there are still aspects of the proposed rules that need to be addressed.
“We have ample amounts of capital and liquidity, with $291bn in CET1 capital, $572bn in total loss-absorbing capacity and $1.5 trillion in cash and marketable securities. We hope that regulators prioritise well-designed regulation and address these aspects of the proposed rules to allow banks of all sizes to deploy their resources to support the real economy.”
