10-QPeriod: Q2 FY2026

JPMORGAN CHASE & CO Quarterly Report for Q2 Ended Jun 30, 2026

Filed August 6, 2026For Securities:JPMJPM-PCJPM-PDJPM-PKJPM-PLJPM-PMJPM-PJAMJBVYLD

Summary

JPMorgan Chase & Co. reported a strong second quarter of 2026, with net income soaring 41% year-over-year to $21.2 billion, or $7.70 per diluted share. This robust performance was significantly boosted by one-time gains, including a $4.6 billion net gain from Visa shares and $1.0 billion from other equity investments, contributing to a 28% increase in total net revenue to $57.3 billion. The bank demonstrated solid operational execution across its segments. Consumer & Community Banking saw a 3% rise in net income, while the Commercial & Investment Bank reported a substantial 46% increase in net income, driven by strong investment banking and markets performance. Asset & Wealth Management also delivered impressive results, with net income up 33% and a high ROE of 48%. The Firm maintained healthy capital levels, with a CET1 ratio of 14.2% under both standardized and advanced approaches, and a robust liquidity coverage ratio, underscoring its financial strength and stability.

Key Highlights

  • 1Net income increased by 41% year-over-year to $21.2 billion, or $7.70 per diluted share.
  • 2Total net revenue grew by 28% year-over-year to $57.3 billion, boosted by significant gains from Visa shares and other equity investments.
  • 3Strong performance in the Commercial & Investment Bank segment, with net income up 46% driven by investment banking and markets activities.
  • 4Asset & Wealth Management reported a 33% increase in net income and a high return on equity of 48%.
  • 5Provision for credit losses decreased by 12% year-over-year to $2.5 billion, reflecting improved credit quality.
  • 6Common equity Tier 1 (CET1) capital ratio remained strong at 14.2% under the standardized approach.
  • 7The Firm repurchased approximately $6.7 billion of common stock in the second quarter and announced a new $50 billion repurchase program.

Frequently Asked Questions

The significant increase in net revenue was primarily driven by a $4.6 billion net gain related to Visa shares in Corporate and $1.0 billion of gains on certain equity investments in Corporate and CIB. These one-time gains significantly boosted noninterest revenue, which increased by 47% year-over-year.

The provision for credit losses decreased by 12% year-over-year to $2.5 billion for the quarter. Net charge-offs also saw a slight decrease. The allowance for credit losses to total retained loans ratio stood at 1.79%, down from 1.85% in the prior year, indicating an improvement in credit quality and a lower reserve level relative to the loan portfolio.

For the full year 2026, JPMorgan Chase expects net interest income to be approximately $105.5 billion, with net interest income excluding Markets projected to be around $96.5 billion, subject to market conditions.

JPMorgan Chase maintained strong capital ratios. The Common Equity Tier 1 (CET1) capital ratio was 14.2% under the standardized approach as of June 30, 2026. This ratio significantly exceeds the regulatory minimums and well-capitalized requirements, indicating a robust capital position.