Financial Results
JP Morgan's Q4 Net Income Rises Sharply; Wealth, Asset Management Results Shine

Besides setting out the results, the CEO of the US lender talked about the need to get the balance right in the US over regulation of financial institutions such as banks.
JP Morgan has
reported a 50 per cent jump in fourth-quarter net income for
2024, reaching $14 billion. The result was achieved on the back
of reported net revenue of $42.768 billion, up 11 per cent.
Noninterest expense fell 7 per cent to $22.762 billion in Q4, the
US-headquartered banking group said in a statement
yesterday.
At the wealth and asset management arm, net income rose to $1.517
billion from $1.217 billion, with revenues rising. Noninterest
expenses fell. Assets under management rose 18 per cent to $4
trillion; client assets also rose 18 per cent to $5.9 trillion,
lifted by net inflows and higher markets. Management fees in
wealth, asset management side of the business rose by 21 per
cent; client net inflows last year were $486 billion.
Commenting on the results, CEO Jamie Dimon, reflected on the
likely regulatory climate with a new US administration about to
take office on January 20.
“Regarding regulation, we have consistently said that regulation
should be designed to effectively balance promoting economic
growth and maintaining a safe and sound banking system. It is
possible to achieve both goals,” he said. “This is not about
weakening regulation – we maintain a fortress balance sheet,
evidenced by $547 billion of total loss-absorbing capacity and
$1.4 trillion of cash and marketable securities – but rather
about setting rules that are transparent, fair, holistic in their
approach and based on rigorous data analysis, so that banks can
play their critical role in the economy and markets.”