First Quarter 2025 Net Income Rises At JP Morgan's Wealth, Asset Arm

Editorial Staff

14 April 2025

On Friday, JP Morgan announced a 23 per cent year-on-year rise in net income at its wealth and asset management arm, reaching $1.583 billion in the first quarter of 2025.

The Wall Street bank said net revenue rose 12 per cent to $5.731 billion; noninterest expenses narrowed 82 per cent to $10 million at its wealth and asset management business. Total assets under management rose 15 per cent reaching $4.1 trillion; total client assets stood at $6 trillion, also rising 15 per cent.

At the group level, JP Morgan said net income rose 9 per cent to $14.643 billion; on a reported basis, net revenue rose 8 per cent; noninterest expenses rose 4 per cent.

Commenting on the figures, CEO Jamie Dimon reflected on the tariff increases – announced last week just before the Q1 reporting period.

“The economy is facing considerable turbulence , with the potential positives of tax reform and deregulation and the potential negatives of tariffs and `trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility. As always, we hope for the best but prepare the firm for a wide range of scenarios,” Dimon said.

On a standardized basis, JP Morgan’s Basel III Common Equity Tier 1 capital ratio was 15.4 per cent.

Here is a reminder of the full-year 2024 and Q4 results of that year for private banks and wealth management parts of major banks from around the world.