JPMorgan Chase reported second-quarter 2026 net income of $21.2 billion, or $7.70 a share, up from the prior year period, while net income excluding significant items came in at $16.9 billion, or $6.14 a share.
Revenue reached $57.3 billion on a reported basis and $58.0 billion on a managed basis. Expense was $27.3 billion, leaving a reported overhead ratio of 48% and a managed overhead ratio of 47%. Credit costs totaled $2.5 billion, including $2.4 billion of net charge-offs and a $149 million reserve build.
Average loans rose 10% year over year and 2% from the first quarter. Average deposits increased 7% year over year and 3% sequentially. Cash and marketable securities stood at $1.5 trillion.
Return on common equity was 24%, return on tangible common equity was 29%, and return on tangible common equity excluding significant items was 23%. The firm’s standard CET1 capital ratio was 14.1% and the advanced ratio was 14.2%. Total loss-absorbing capacity was $590 billion, and standard risk-weighted assets were $2.1 trillion.
In consumer and community banking, average loans rose 2% year over year and 1% from the prior quarter. Average deposits increased 3% year over year and 2% sequentially. Client investment assets were up 21% from a year earlier. Debit and credit card sales volume rose 10% year over year, while the card services net charge-off rate was 3.34%. Active mobile customers increased 6%.
In corporate and investment banking, investment banking fees rose 30% year over year and 14% from the prior quarter. Markets revenue increased 35%, with fixed income markets up 6% and equity markets up 86%. Average banking and payments loans climbed 13% year over year and 5% sequentially, while average client deposits rose 11% year over year and 3% quarter over quarter.
In asset and wealth management, assets under management reached $5.1 trillion, up 18% from a year ago. Average loans rose 18% year over year and 6% sequentially, while average deposits increased 5% year over year and 3% from the prior quarter.
Book value per share was $133.01, up 9% year over year, and tangible book value per share was $113.35, up 10%. The firm repurchased $6.2 billion of common stock and paid a $4.0 billion common dividend. Net payout over the last 12 months was 73%.
JPMorgan said it raised approximately $1.9 trillion of credit and capital year to date, including $160 billion for consumers, $17 billion for U.S. small businesses, $1.7 trillion for corporations and non-U.S. government entities, and $52 billion for nonprofit and U.S. government entities. Today the company's shares have moved 2.75% to a price of $343.74. If you want to know more, read the company's complete 8-K report here.
