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JPMorganQ12009EarningsReleaseSlides-20090416

JPMorganQ12009EarningsReleaseSlides-20090416

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Published by Wall Street Folly
JP Morgan Q1 2009 Earnings release slides
JP Morgan Q1 2009 Earnings release slides

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Published by: Wall Street Folly on Apr 16, 2009
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05/11/2014

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APRIL16,2009
FINANCIALRESULTS1Q09
 
1Q09 Financial highlights
1
See notes 2 and 3 on page 21
2
See note 1 on page 21
3
Excludes the impact of purchased credit-impaired loans acquired as part of the WaMu transaction
Net income of $2.1B; EPS of $0.40
Generated record firmwide revenue of $26.9B and pretax, pre-provision profit of$13.5B (on a managed basis
1
):
Record revenue and net income in the Investment Bank
WaMu integration on track, driving Retail Banking growth in deposits by 62% and inchecking accounts by 126%
Fortress balance sheet strengthened further:
$87.2B of tangible common equity
2
, 7.2% of risk-weighted assets
Tier 1 Capital of $137.2B, 11.3% Tier 1 Capital ratio (9.2% excluding TARP capital)
Added $4.2B to credit reserves, bringing total to $28.0B; firmwide loan loss coverageratio of 4.53%
3
1
       F       I       N       A       N       C       I       A       L       R       E       S       U       L       T       S
 
1Q094Q081Q08Results excl. Merger-related items
2
Revenue (FTE)
1
$27,062$7,740$9,164Credit Costs
1
10,0601,4774,955  Expense13,1362,1294,205  Merger-related items
2
(after-tax)(234)(1,298)(234)  Reported Net Income $2,141$1,439($232)Reported EPS$0.40$0.34($0.27)ROE
3
5% 1%8%ROE Net of GW
3
7% 1%12%ROTCE
3,4
8% 1%13%$ O/(U)
1Q09 Managed results
1
$ in millions
 
$ in millions
1
Managed basis presents revenue and credit costs without the effect of credit card securitizations. Revenue is on a fully taxable-equivalent (FTE) basis. All references to credit costs refer to managed provision for credit losses. See notes 2 and 3 on slide 21
2
Merger-related items relate to the Bear Stearns and WaMu transactions
3
Actual numbers for all periods, not over/under
4
See note 1 on slide 21
2
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