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Third-Quarter 2025 Wealth, Asset Revenues Rise At JP Morgan

Editorial Staff

15 October 2025

JP Morgan yesterday reported that net revenue in its asset and wealth management division – which includes its private bank – rose 12 per cent year-on-year in the third quarter of 2025, standing at $6.1 billion.

Management fees were the main driver of revenue gains, helped by net inflows and higher market levels, the US banking group said in a statement. The bank is customarily the first major US bank to start the quarterly results reporting season. 

Net income in wealth and asset management rose 23 per cent on a year earlier to $1.658 billion, it said. 

Provision for credit losses rose to $59 million – affected by one single client – from $4 million a year before.

Noninterest costs rose 5 per cent to $3.818 billion.

The bank said assets under management rose 18 per cent on a year earlier to $4.6 trillion; total client assets were $6.8 trillion, rising 20 per cent.

In his comments on the results, CEO Jamie Dimon noted that first-time investors on the wealth management side of the business surpassed 43,000 – a record high.

Group-wide, JP Morgan said net income rose 12 per cent to $14.393 billion; provision for credit losses rose 9 per cent and noninterest costs rose 8 per cent. Net revenue, on a reported basis, gained 9 per cent on a year earlier to $46.43 billion in Q3 2025.

Dimon cautioned about the outlook. “While there have been some signs of a softening, particularly in job growth, the US economy generally remained resilient. However, there continues to be a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation.