Q3 2025 JPMorgan Chase & Co Earnings Call Transcript
Key Points
- JPMorgan Chase & Co (JPM) reported a strong net income of $14.4 billion and EPS of $5.07, with a return on tangible common equity (ROTC) of 20%.
- Revenue increased by 9% year-on-year to $47.1 billion, driven by higher markets revenue and increased fees across asset management, investment banking, and payments.
- The Consumer & Community Banking (CCB) division reported net income of $5 billion, with revenue up 9% year-on-year, driven by higher net interest income (NII) from increased revolving balances.
- The Corporate & Investment Bank (CIB) division reported net income of $6.9 billion, with revenue up 17% year-on-year, reflecting strong performance in markets, payments, investment banking, and security services.
- Asset and Wealth Management (AWM) achieved record revenue of $6.1 billion, up 12% year-on-year, with long-term net inflows of $72 billion and assets under management (AUM) increasing by 18% year-on-year.
- Expenses increased by 8% year-on-year to $24.3 billion, driven by higher volume and revenue-related expenses.
- Credit costs were $3.4 billion, with net charge-offs of $2.6 billion, including elevated wholesale charge-offs due to instances of apparent fraud in secured lending facilities.
- The Common Equity Tier 1 (CET1) ratio decreased by 30 basis points to 14.8%, primarily due to increases in wholesale lending and other market activities.
- Retail deposit growth was flat this quarter, with expectations for growth rates of 3% and 6% in the future being potentially delayed due to macroeconomic factors.
- Concerns were raised about potential risks in lending to non-bank financial institutions (NBFIs), with specific mention of a $170 million charge-off related to Tricolor.
Good morning ladies and gentlemen. Welcome to JPMorgan Chase's 3rd quarter 2025 earnings call. This call is being recorded. Your line will be muted for the duration of the call. We will now go live to the presentation. The presentation is available on JPMorgan Chase's website. Please refer to the disclaimer in the back concerning forward-looking statements. Please stand by.
At this time, I would now like to turn the call over to JP Morgan Chase's Chairman and CEO Jamie Dimon, and Chief Financial Officer Jeremy Barnum. Mr. Barnum, please go ahead.
Thank you and good morning everyone. Let me begin by noting that this quarter we are experimenting with shorter prepared remarks. We're streamlining this part of the call to move more quickly to your questions and to minimize the amount of time spent on repeating what you have already seen in the earnings materials. So with that, turning to this quarter's results, the firm reported net income of $14.4 billion and EPS of $5.07 with an ROTC of 20%.
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