JP Morgan Chase 2014 Annual Report Download - page 7

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However, our stock performance has not been particularly good in the last five years.
While the business franchise has become stronger, I believe that legal and regulatory
costs and future uncertainty regarding legal and regulatory costs have hurt our
company and the value of our stock and have led to a price/earnings ratio lower
than some of our competitors. We are determined to limit (we can never completely
eliminate them) our legal costs over time, and as we do, we expect that the strength
and quality of the underlying business will shine through.
JPMorgan Chase continued to support consumers and businesses and make a
significant positive impact on our communities. In 2014, the firm provided credit
and raised capital of more than $2.1 trillion for our clients. The firm also has hired
nearly 8,700 military veterans since 2011 as a proud founding member of the 100,000
Jobs Mission, which recently has increased the goal to 300,000 jobs. Our firm was
there to help small businesses — we provided $19 billion of credit to U.S. small
businesses, which allowed them to develop new products, expand operations and
hire more workers. In total, we provided $197 billion of credit to consumers. And
we provided credit and raised capital of more than $75 billion for nonprofit and
government entities, including states, municipalities, hospitals and universities.
Our strength allows us to be there for our clients and communities in good times —
and, more important, in bad times. In the face of many dicult challenges, we never
stopped doing our job, and we demonstrated that the work we do matters. And we also
continue to build our business by investing in infrastructure, systems, technology and
new products and by adding bankers and branches around the world.
New and Renewed Credit and Capital for Clients
at December 31,
 Corporate clients (9)% 20% 7%
 Small business 18% (8)% 5%
 Card & Auto (10)% 12% 18%
 Commercial/ 11% 8% 41%
Middle market
 Asset 41% 17% (23)%
management
 Mortgage/ 22% (7)% (53)%
Home equity
Total Consumer and 17% 5% (10)%
Commercial Banking
‘11 to ‘12 ‘12 to ‘13
Year-over-year change
‘13 to ‘14
2014201320122011 2014201320122011
$156
$100
$110
$91
$191
$141
$122
$82
$474
$556
$20
$177
$165
$131
$92
$583
$18
$17
$84
$127
$185
$108
$523
$19
$1.4
$1.3
$1.5
$1.6
Corporate clients
($ in trillions)
Consumer and Commercial Banking
($ in billions)