Overview

• JPMorgan Chase posted a record $14.6 billion profit for Q1 2025, driven by a 48% surge in equity trading revenues and strong investment banking performance.
• CEO Jamie Dimon highlighted significant economic risks, including volatile trade policies, rising tariffs, and geopolitical tensions, with a 50% chance of recession this year.
• The bank increased credit loss provisions to $3.3 billion, up 75% from the previous year, signaling caution about potential loan defaults in a weaker economic environment.
• Corporate clients are delaying hiring, expansion, and M&A activity, adopting a 'wait-and-see' approach due to policy uncertainty and market volatility.
• Other major banks, including Morgan Stanley and Wells Fargo, also reported better-than-expected earnings, but executives across the sector echoed concerns about the economic impact of ongoing trade disputes.