As I often remind our employees, the work we do matters and has impact.
In addition, I urge you to read the CEO letters in this Annual Report, which will give you more specific details about our businesses and our plans for the future.Īs you know, we are champions of banking’s essential role in a community - its potential for bringing people together, for enabling companies and individuals to attain their goals, and for being a source of strength in difficult times.
I invite you to peruse them at your leisure. Our performance results are shown in the charts below, which illustrate how we have grown our franchises, how we compare with our competitors and how we look at our fortress balance sheet. Throughout these challenging past few years, we never stopped doing all the things we should be doing to serve our clients and our communities.Īdhering to our basic principles and strategies (see sidebar on Steadfast Principles below) allows us to drive good organic growth and properly manage our capital (including dividends and stock buybacks), as we have consistently demonstrated for decades.
I remain proud of our company’s resiliency and of what our hundreds of thousands of employees around the world have achieved, collectively and individually. In total, we extended credit and raised capital of $2.4 trillion for our consumer and institutional clients around the world. We grew market share in several of our businesses and continued to make significant investments in products, people and technology while exercising strict credit discipline. We also maintained our quarterly common dividend of $1.00 per share and continued to reinforce our fortress balance sheet. We earned revenue in 2022 of $132.3 billion 1 and net income of $37.7 billion, with return on tangible common equity (ROTCE) of 18%, reflecting strong underlying performance across our businesses. In spite of the unsettling landscape, 2022 was somewhat surprisingly another strong year for JPMorgan Chase, with the firm generating record revenue for the fifth year in a row, as well as setting numerous records in each of our lines of business. JPMorgan Chase, a company that historically has worked across borders and boundaries, will do its part to ensure the global economy is safe and secure. This is that moment again, when our country needs to work across public and private sectors to lead while improving American competitiveness - which also means re-establishing the American promise of providing equal access to opportunity for all. During other times of great crisis, we have seen America, in partnership with other countries around the globe, unite for a common cause.
#Another word for timely free
Nevertheless, this is the moment when we should put aside our differences and work with other Western nations to come together in defense of democracy and essential freedoms, including free enterprise. While all these experiences and associated turmoil have serious ramifications on our company, colleagues, clients and the countries in which we do business, their consequences on the world at large - with the extreme suffering of the Ukrainian people and the potential restructuring of the global order - are far more important.Īs these events unfold, America remains divided within its borders, and its global leadership role is being challenged outside of its borders. Almost all nations felt the effects of global economic uncertainty, including higher energy and food prices, mounting inflation rates and volatile markets, and, of course, COVID-19’s lingering impacts. Across the globe, 2022 was another year of significant challenges: from a terrible war in Ukraine and growing geopolitical tensions - particularly with China - to a politically divided America.
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