JPMorgan Chase reported third-quarter 2026 net income of $15.3 billion, or $5.57 per diluted share, as revenue rose and several major businesses posted double-digit growth. Excluding a significant investment securities item, net income was $15.8 billion, or $5.75 per share. 3Q26_Earnings_Press_Release
Reported revenue reached $50.2 billion, while managed revenue totaled $50.9 billion, up 8% from the prior-year period.
The company generated a 17% return on equity and a 20% return on tangible common equity. Excluding $658 million of net investment securities losses, or $498 million after tax, return on tangible common equity was 21%.
Net interest income increased 13% to $27.1 billion, while noninterest revenue rose 3% to $23.8 billion.
Excluding Markets, net interest income increased 6% to $24.7 billion, supported by higher deposit balances, growth in Card Services balances, and higher wholesale loan balances.
Average loans increased 10% year-over-year and 2% sequentially, while average deposits grew 8% year-over-year and 2% from the second quarter.
JPMorgan Chase maintained a strong capital position with approximately $304 billion of Basel III common equity Tier 1 capital. Its standardized CET1 ratio was estimated at 13.9%, while its advanced ratio was 14.1%.
The company also held approximately $1.5 trillion of cash and marketable securities and $599 billion of total loss-absorbing capacity.
Consumer & Community Banking delivered net income of $5.7 billion, up 13%, as revenue increased 9% to $21.2 billion.
Banking & Wealth Management revenue rose 6% to $11.7 billion, driven primarily by higher asset management fees and increased net interest income on higher deposit balances.
Card Services & Auto revenue increased 15% to $8.3 billion, reflecting higher Card Services balances, stronger net yield, and increased auto operating lease income.
The company remained the largest U.S. retail deposit franchise for the sixth consecutive year and added more than 650,000 net new checking accounts during the quarter.
Debit and credit card sales volume increased 10%, while active mobile customers grew 7%.
Commercial & Investment Bank net income increased 20% to $8.2 billion, with revenue rising 14% to $22.7 billion.
Banking & Payments revenue increased 16% to approximately $11 billion.
Investment Banking revenue increased 15% to $3.1 billion, while investment banking fees rose 14% to $3 billion, primarily reflecting higher advisory fees.
JPMorgan Chase remained ranked No. 1 globally for investment banking fees, with a 9.2% year-to-date wallet share as of October 1, 2026.
Payments revenue increased 14% to $5.6 billion, supported by higher deposit balances, stronger deposit margins, and fee growth.
Markets revenue rose 15% to $10.3 billion.
Equity Markets was a particular area of strength, with revenue jumping 49% to $5 billion on strong performance across products, particularly Prime and Derivatives.
Securities Services revenue rose 14% to $1.6 billion, driven by higher market levels, client activity, deposit balances, and deposit margins.
Asset & Wealth Management also posted strong growth, with net income increasing 11% to $1.8 billion and revenue rising 14% to $6.9 billion.
Assets under management reached $5.2 trillion, up 13%, while total client assets increased 15% to $7.9 trillion.
The business benefited from strong net inflows and higher market levels, with JPMorgan Chase reporting $263 billion of client asset net inflows during the quarter.
Average Asset & Wealth Management loans increased 20% year-over-year and 6% sequentially.
Firmwide noninterest expense totaled $27.3 billion, up 12%, reflecting higher compensation, additional front-office staffing, brokerage and distribution costs, marketing, and technology investment.
Provision for credit losses totaled $2.7 billion, including $2.2 billion of net charge-offs and a $539 million net reserve build. Net charge-offs declined by $389 million from the prior-year period.
JPMorgan Chase continued returning capital to shareholders during the quarter, including $4.4 billion of common dividends, or $1.65 per share, and $664 million of net common stock repurchases.
Book value per share increased 6% year-over-year to $132.30, while tangible book value per share increased 7% to $112.64.
The bank also said it had raised approximately $2.9 trillion of credit and capital for customers and communities year-to-date, including $240 billion for consumers, $27 billion for U.S. small businesses, and approximately $2.5 trillion for corporations and non-U.S. government entities.
KEY QUOTES:
“The Firm reported another quarter of strong results, generating net income of $15.8 billion and an ROTCE of 21%, excluding discretionary investment securities losses totaling $498 million after tax.”
“Each line of business performed well. In the CIB, revenue increased 14%. Markets revenue and IB fees each rose at a mid-teens rate, helped by strong levels of client activity, although activity did moderate somewhat during the quarter. Meanwhile, Payments and Securities Services each posted double-digit revenue increases led by ongoing deposit and fee growth. In CCB, revenue rose 9%. We ranked #1 in U.S. retail deposits for the sixth consecutive year, and account acquisition remained strong in the quarter as we added over 650,000 net new checking accounts. Additionally, growth continued to be robust in Card, with strong demand for our set of products. Finally, in AWM, revenue grew 14%, and flows were very strong with $263 billion of client asset net inflows.”
“Our capital hierarchy has remained consistent over time, with investing in the franchise and supporting our clients at the top. In line with our hierarchy, we reduced share repurchases this quarter. We believe we can deploy this capital over time at very attractive returns for our shareholders.”
“The U.S. economy continued to be fueled by strong business investment and ongoing consumer spending. However, large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface. These forces may be manageable, but we remain prepared for a wide range of outcomes.”
Jamie Dimon, Chairman and CEO of JPMorgan Chase
