The Firm's average interest-earning assets were $4.3 trillion, up $442 billion, and the yield was 4.75%
For the second quarter of 2026, JPMorganChase reported net income of $21.2 billion, with ROE of 24% and ROTCE of 29%
Noninterest expense was $27.3 billion, up 15%, predominantly driven by higher compensation expense as a result of higher revenue-related compensation, wage inflation and growth in the number of employees
two findings, in the order they were read
Noninterest expense increased from $26.9 billion (up 14%) to $27.3 billion (up 15%), with wage inflation now explicitly cited as a driver alongside revenue-related compensation and employee growth.
The report says this changed. It does not say whether that is good or bad, so neither do we.
before · MD&A · 2026-03-31 → 2026-06-30
“Noninterest expense was $26.9 billion, up 14%, predominantly driven by higher compensation expense, including higher revenue-related compensation and growth in the number of employees”