JP Morgan Chase 2015 Annual Report Download - page 97

JPMorgan Chase & Co./2015 Annual Report 87
Consumer & Business Banking
Selected income statement data
As of or for the year ended
December 31,
(in millions, except ratios) 2015 2014 2013
Revenue
Lending- and deposit-related
fees $ 3,112 $ 3,010 $ 2,942
Asset management,
administration and
commissions 2,097 2,025 1,815
Card income 1,721 1,605 1,495
All other income 611 534 492
Noninterest revenue 7,541 7,174 6,744
Net interest income 10,442 11,052 10,668
Total net revenue 17,983 18,226 17,412
Provision for credit losses 254 305 347
Noninterest expense 11,916 12,149 12,162
Income before income tax
expense 5,813 5,772 4,903
Net income $ 3,581 $ 3,443 $ 2,943
Return on common equity 30% 31% 26%
Overhead ratio 66 67 70
Equity (period-end and average) $11,500 $ 11,000 $ 11,000
2015 compared with 2014
Consumer & Business Banking net income was $3.6 billion,
an increase of 4% compared with the prior year.
Net revenue was $18.0 billion, down 1% compared with the
prior year. Net interest income was $10.4 billion, down 6%
due to deposit spread compression, largely offset by higher
deposit balances. Noninterest revenue was $7.5 billion, up
5%, driven by higher debit card revenue, reflecting an
increase in transaction volume, higher deposit-related fees
as a result of an increase in customer accounts and a gain on
the sale of a branch.
Noninterest expense was $11.9 billion, a decrease of 2%
from the prior year, driven by lower headcount-related
expense due to branch efficiencies, partially offset by higher
legal expense.
2014 compared with 2013
Consumer & Business Banking net income was $3.4 billion,
an increase of 17%, compared with the prior year, due to
higher net revenue.
Net revenue was $18.2 billion, up 5% compared with the
prior year. Net interest income was $11.1 billion, up 4%
compared with the prior year, driven by higher deposit
balances, largely offset by deposit spread compression.
Noninterest revenue was $7.2 billion, up 6%, driven by
higher investment revenue, reflecting an increase in client
investment assets, higher debit card revenue, reflecting an
increase in transaction volume, and higher deposit-related
fees as a result of an increase in customer accounts.
Selected metrics
As of or for the year
ended December 31,
(in millions, except
ratios) 2015 2014 2013
Business metrics
Business banking
origination volume $ 6,775 $ 6,599 $ 5,148
Period-end loans 22,730 21,200 19,416
Period-end deposits:
Checking 246,448 213,049 187,182
Savings 279,897 255,148 238,223
Time and other 18,063 21,349 26,022
Total period-end
deposits 544,408 489,546 451,427
Average loans 21,894 20,152 18,844
Average deposits:
Checking 226,713 198,996 176,005
Savings 269,057 249,281 229,341
Time and other 19,452 24,057 29,227
Total average deposits 515,222 472,334 434,573
Deposit margin 1.90% 2.21% 2.32%
Average assets $ 41,457 $ 38,298 $ 37,174
Credit data and quality statistics
Net charge-offs $ 253 $ 305 $ 337
Net charge-off rate 1.16% 1.51% 1.79%
Allowance for loan
losses $ 703 $ 703 $ 707
Nonperforming assets 270 286 391
Retail branch business metrics
Net new investment
assets $ 11,852 $ 16,088 $ 16,006
Client investment assets 218,551 213,459 188,840
% managed accounts 41% 39% 36%
Number of:
Chase Private Client
locations 2,764 2,514 2,149
Personal bankers 18,041 21,039 23,588
Sales specialists 3,539 3,994 5,740
Client advisors 2,931 3,090 3,044
Chase Private Clients 441,369 325,653 215,888
Accounts (in
thousands)(a) 31,342 30,481 29,437
(a) Includes checking accounts and Chase Liquid® cards.