We grew our customer base to 61 million U. Our active digital customers grew to 47 million, and 30 million of them are active on mobile, the largest in our industry. We delivered these results with a steady focus on the same four areas:
As I look back on last year — in fact, the last decade — it is remarkable how well our company has performed. Ours is an exceptional company with an extraordinary heritage and a promising future.
We continue to make excellent progress around technology, risk and controls, innovation, diversity and reduced bureaucracy. Throughout a period of profound political and economic change around the world, our company has been steadfast in our dedication to the clients, communities and countries we serve while earning a fair return for our shareholders.
We now have delivered record results in seven of the last eight years, and we have confidence that we will continue to deliver in the future. As you know, we believe tangible book value per share is a good measure of the value we have created for our shareholders.
Then, in our view, our company should ultimately be worth considerably more than tangible book value. In prior years, I explained why buying back our stock at tangible book value per share was a no-brainer.
Analyze J P Morgan Chase & Co (JPM) Company Stock Report - Get free stock reports for J P Morgan Chase & Co and all the companies you research at r-bridal.com JPMorgan Chase had a strong year in For Consumer & Community Banking (CCB), we delivered 17% return on equity (ROE) on net income of $ billion and $ billion in revenue. JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank managed accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts.
Six years ago, we offered an example of this, with earnings per share and tangible book value per share being substantially higher than they otherwise would have been just four years later. We want to remind our shareholders that we much prefer to use our capital to grow than to buy back stock.
We currently have excess capital, but due to recent tax reform and a more constructive regulatory environment, we hope, in the future, to use more of our excess capital to grow our businesses, expand into new markets and support our employees.
Our stock price is a measure of the progress we have made over the years. This progress is a function of continually making important investments, in good times and not-so-good times, to build our capabilities — people, systems and products.
These investments drive the future prospects of our company and position it to grow and prosper for decades. And this growth came during a time of unprecedented challenges for banks — both the Great Recession and the extraordinarily difficult legal, regulatory and political environment that followed.
And we believe the anticipated reversal of many negatives and an increasingly more favorable business environment, coupled with our sustained, strong business results, are among the reasons our stock price has done so well this past year.
We do not worry about the stock price in the short run, and we do not worry about quarterly earnings. Our mindset is that we consistently build the company — if you do the right things, the stock price will take care of itself.
In the next section, I discuss in more detail how we think about building shareholder value for the long run while also taking care of customers, employees and communities.
JPMorgan Chase stock is owned by large institutions, pension plans, mutual funds and directly by individual investors. However, it is important to remember that in almost all cases, the ultimate owner is an individual.
Well over million people in the United States own stocks, and a large percentage of them, in one way or another, own JPMorgan Chase stock. Many of these people are veterans, teachers, police officers, firefighters, retirees, or those saving for a home, school or retirement.
Your management team goes to work every day recognizing the enormous responsibility that we have to perform for our shareholders.
In this letter, I discuss the issues highlighted below — which describe many of our successes and opportunities, as well as our challenges and responses. How will the company continue to grow? What are the organic growth opportunities?
Why is organic growth a better way to grow — and why is it sometimes difficult? Is there a conflict between building shareholder value vs. Transparency, financial discipline and a fortress balance sheet. Why is this discipline so important? What risks worry us the most? And what could go wrong?
How is the company dealing with bureaucracy and complacency that often infect large companies? Public Policy What has gone wrong in public policy?JPMorgan Chase had a strong year in For Consumer & Community Banking (CCB), we delivered 17% return on equity (ROE) on net income of .
Forms of JPMorgan Chase & Co. Long-Term Incentive Plan Terms and Conditions for stock appreciation rights and restricted stock units, dated as of January 19, and February 16, (incorporated by reference to Exhibit to the Annual Report on Form K of JPMorgan Chase & Co.
(File No. ) for the year ended December . The Investor Relations website contains information about JPMorgan Chase & Co. business for stockholders, potential investors, and financial analysts. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $ trillion and operations worldwide.
The firm is a leader in investment banking. JPMorgan Chase & Co. has issued the Annual Report, highlighting the firm’s lines of business and information about the firm’s overall financial performance. View the Annual Report. Download the Letters to Shareholders iPad App.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $ trillion and operations worldwide. The firm is .