JPMOrgan Bank image

JPMorgan Chase Bank information

JPMorgan Chase Bank information

JPMorgan Chase Bank information

10 largest banks in the U.S. by assets

JPMorgan Chase Bank of America Corp. Wells Fargo & Co Citigroup Inc. Goldman Sachs Group Inc.
Morgan Stanley U.S. Bancorp PNC Financial Services Group Inc. TD Group US Holdings LLC Capital One Financial Corp

 

JPMorgan Chase Bank information

Stock price: JPM

(NYSE) $107.22 +0.20 (+0.19%) Dec 27, 4:00 PM EST
CEO: James Dimon
Capital ratio: 11.6% (2015)
Headquarters: New York City, New York, United States

Divisions: J.P. Morgan Asset Management

 

Subsidiaries: Chase Bank, J.P. Morgan & Co., WePay, MORE

 

Did you know: JPMorgan Chase is the largest bank in the US by total assets ($2,563 B).
Source: wikipedia.org/https://www.jpmorganchase.com/

JPMorgan Chase Bank information

History of JPMorgan Chase & Co.

JPMorgan Chase & Co. is one of the world’s oldest, largest and best-known financial institutions.

 

The firm is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today’s company. We trace our roots to 1799 in New York City, and our many well-known heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the WaMu transaction. Each of these firms, in its time, was closely tied to innovations in finance and the growth of the U.S. and global economies.

Their Business Principles Certain principles are fundamental to our success. They focus on how we strengthen, safeguard and grow our company over time. Adhering to each of these principles is how we will become the best and most respected bank in the world. We cannot promise specific outcomes or risk-free results. From time to time, we may fall short in our efforts and if that happens, we will renew our commitment to these principles and re-double our efforts. What we can and will promise is to be truthful and give honest assessments of our businesses and prospects; act with integrity and honor; and do the right thing—not necessarily the easy or expedient thing. We will work with fierce resolve to make this a company of which our customers, employees, shareholders and communities can be proud.

 

“The strength of our company has allowed us to always be there for our clients and communities – in good times and in bad times – and this strength enables us to continually invest in building our businesses for the future.”

 

Jamie Dimon, Chairman & CEO, JPMorgan Chase & Co.

Their  Exceptional Client Service

 

Throughout our 200-year history, JPMorgan Chase has always been there for our constituents around the world. In the toughest of times when strong banks are needed the most, we never waver in our support, and we never lose sight of our main mission: serving our clients. Our job is to always do right by them and consistently strive not only to meet their needs but also to exceed their expectations and continually make it easy for clients to do business with us.

 

As much as any company on the planet, we are helping individuals, businesses of all sizes, governments, nonprofits and communities seize the opportunities of our times. We can do this because of the strong company we have built – global in reach, local in execution, with an impressive set of products and capabilities and a steadfast commitment to provide exceptional client service.

 

We Focus on the Customer

 

Exceed expectations by listening to customers and anticipating their needs, making it easy for them to do business with us

Earn trust by always focusing on customers’ best interests; high-quality customers will grow along with the company

Give customers a good, fair deal – offer high-quality, competitively priced products and services

Consider the full range of products and services that will fit customer needs, cross selling when appropriate

Never allow short-term profit considerations to get in the way of doing what’s right for the customer

Use our own products – when it comes to understanding the customer, nothing beats being a customer

 

We Are Field and Client Driven; We Operate at the Local Level

 

Use our size as a strength to execute well at the local level

Spend time in local markets to understand everything about the customer (and what the competition might be doing for him or her)

Provide the resources and authority needed for decision making in the field

Innovate, test and learn – we know some ideas will fail, and that’s okay

 

We Build World Class Franchises, Investing for the Long Term, to Serve Our Clients

 

Make good, long-term decisions that allow us to do well in the good times and withstand the tough times

Be proud of what we are doing

Do right by the customer in all our interactions

Ensure our company will stand the test of time

Their  Operational Excellence As important as strategy is, we have to execute to win. Execution involves every employee and every contact we have with customers. The devil is in the details. We must act quickly on problems; drive results, not just activities; and ensure detailed follow-up so that we meet our commitments.

 

We Set the Highest Standards of Performance

 

1.       Measure performance with a detailed, balanced scorecard

2.       Strive for excellence, don’t settle for mediocrity

3.       Recognize that teamwork also requires a maximum individual effort Compare yourself with the best

They  Demand Financial Rigor and Risk Discipline;

We Will Always Maintain a Fortress Balance Sheet

 

·         Monitor, track and report the right things the right way — fix ineffective reporting

·         Ensure that accounting is fair, accurate and transparent

·         Create capital flexibility and manage risk dynamically

·         Share consistent, comprehensive information with shareholders and each other

·         Make analysis disciplined, real and fact based, focused on areas for improvement

·         Anticipate problems, be prepared with solutions

Be a risk manager; raising red flags is every employee’s responsibility

They Strive for the Best Internal Governance and Controls

 

·         Commit to enterprise-wide world-class governance, controls and compliance

·         Cultivate strong relationships with our regulators – be transparent, direct and respectful

·         Build a safety-first culture

·         Ensure that our controls infrastructure is as robust as our business

Remember that good compliance is good business

They Act and Think Like Owners and Partners

 

·         Work for profitable, sustainable, long-term growth

·         Streamline management and encourage an appropriate disregard for hierarchy

·         Guard the firm’s resources; spend the firm’s money as if it were your own

·         Invest wisely for the future – including on infrastructure and people

·         Recognize that competitive intelligence is competitive advantage

Foster a spirit of partnership

They Strive to Build and Maintain the Best, Most Efficient Systems and Operations

 

·         Promote efficiencies and remember that leaner is better

·         Leverage technology to make operations fast and simple

·         Cut waste relentlessly – and eliminate unnecessary bureaucracy

Be an expert and ensure we know our business best

They Are Disciplined in Everything We Do

 

·         Be rigorous and detailed, with continuous follow-up

·         Maintain an intense work ethic to get the job done right

·         Always strive for improvement and have the ability to drive change – make a list and get it done

·         Act in a thoughtful, coordinated way – not in haste or in isolation

·         Do it consistently – like exercising or weeding the garden

Conduct regular, well-organized and thorough business reviews of functions and controls

They Execute with Both Skill and Urgency

 

 

·         Work with energy and focus; take esponsibility and deliver on commitments

·         Ensure that every role, every person and every detail count

·         Get a little better every day – continually raise the bar

·         Deliver results; investigate, analyze and improve when problems arise

·         Know the details, commit to follow-ups, and meet deadlines for clients and colleagues

Manage change with deliberate speed

A Commitment to Integrity, Fairness and Responsibility
We Will Not Compromise Our Integrity

 

·         Do the right thing even when it’s not the easy thing

·         Have zero tolerance for unethical behavior

·         Be accountable, straightforward and honest in all your dealings

·         Abide by the spirit and the letter of the laws and regulations

They Face Facts

 

·         Look at the facts in a cold-blooded way; admit and learn from mistakes

·         Acknowledge the negatives

·         Have only one truth for all audiences

·         Keep one set of books

·         Get the right people in the room (and the best answers will be found)

They Have Fortitude

 

·         Have a fierce resolve in everything you do

·         Demonstrate determination, resiliency and tenacity

·         Do not let temporary setbacks become permanent excuses

·         Use mistakes and problems as opportunities to get better – not reasons to quit

They  Foster an Environment of Respect, Inclusiveness, Humanity and Humility

 

·         Treat all people properly and with respect – from clerks to CEOs

·         Excel by embracing an inclusive work environment and diverse teams

·         Be open to different management and individual styles; there are many ways to be successful

·         Respect people’s personal lives and show compassion when an employee is struggling

·         Help each other – whether in serving clients or in navigating careers at the firm

·         Hire and promote those people who deserve respect (would you let your kids report to them?)

·         Have a deep acknowledgment of those who came before you – who helped pave the way and shape who we are

They Help Strengthen the Communities in Which We live and Work

 

·         Leverage our success in order to give back to the communities where we do business

·         Be good, engaged citizens

·         View ourselves as a local small business: Know our customers, create summer jobs and support local organizations

JPMORGAN CHASE (JPM)

REPORTS THIRD-QUARTER 2017

JPMORGAN CHASE REPORTS THIRD-QUARTER 2017 NET INCOME OF $6.7 BILLION, OR $1.76 PER SHARE
JPMorgan Chase Bank information-JPMORGAN CHASE (JPM)

Net revenue 2017

JPMORGAN CHASE (JPM)

Net revenue on a reported basis totaled $25.3 billion, $25.5 billion, and $24.7 billion for the third quarter of 2017, second

quarter of 2017, and third quarter of 2016, respectively

JPMorgan Chase Bank information-JPMorgan Chase & Co. News Release

 

JPMorgan Chase Bank information

Consumer & Business Banking net revenue was $5.4 billion, up 15%, predominantly driven by higher deposit margins and strong deposit growth. Mortgage Banking net revenue was $1.6 billion, down 17%, largely driven by lower net servicing revenue, loan spread compression, and lower production margins. Card, Commerce Solutions & Auto net revenue was $5.1 billion, up 7%, predominantly driven by higher auto lease volumes and net interest income on higher Card loan balances, partially offset by higher Card new account origination costs.

Non interest expense was $6.5 billion, flat compared with the prior year.

The prior year included two items totaling $175 million related to liabilities from a merchant in bankruptcy and mortgage servicing reserves. Excluding these two items, non interest expense would have been up 3%, predominantly driven by higher auto lease depreciation and business growth, partially offset by lower marketing expense.

The provision for credit losses was $1.5 billion, an increase of $223 million, driven by higher net charge-offs, due to Card but partially of fset by Mortgage, and a higher reserve build in Card. Net charge-offs included $63 million of incremental charge-offs reported in accordance with regulatory guidance 8, predominantly in Auto.

JPMorgan Chase Bank information

America’s top 10 largest banks

In the years since the financial crisis, the nation’s biggest banks have grown substantially bigger. Together, the top 10 largest banks now hold $11.8 trillion in assets.

For a sense of the vast scale of that wealth, $11.8 trillion is enough to buy every one of the 7.35 billion human beings on Earth a 13-inch MacBook Pro, with a little left over for accessories.

Of course, every year sees some shakeup in this exclusive club. Larger banks trade places with one another, and smaller banks drop out, replaced by faster-growing rivals.

This year, just to get in, you need at least $348.55 billion in assets, a sum so large that, if converted into $100 bills laid end to end, would reach the moon (with several thousand miles left over to check out the view).

Here are the 10 largest banks in the U.S. by assets, according to the latest numbers from S&P Global Market Intelligence, a financial industry research firm.
Rank Bank name Total assets
1 JPMorgan Chase & Co. $2.55 trillion
2 Bank of America Corp. $2.25 trillion
3 Wells Fargo & Co. $1.95 trillion
4 Citigroup Inc. $1.82 trillion
5 Goldman Sachs Group Inc. $894.09 billion
6 Morgan Stanley $832.39 billion
7 U.S. Bancorp $449.52 billion
8 PNC Financial Services Group Inc. $371.28 billion
9 TD Group US Holdings LLC $353.62 billion
10 Capital One Financial Corp. $348.55 billion

By Amanda Dixon
December 12, 2017

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