View JPM Q4 Earnings Report

Highlights:

• Ranked #1 in Global Investment Banking Fees for full-year 2009
• Completed Washington Mutual integration and maintained solid growth in Retail Banking, opening more than 6 million new checking accounts in 2009
• Delivered solid fourth-quarter results in other businesses, including Asset Management and Commercial Banking
• Credit costs remained high: Added $1.9 billion to consumer loan loss reserves, resulting in firmwide credit reserves of $32.5 billion and loan loss coverage ratio of 5.5 percent
• Balance sheet strengthened further: Tier 1 Capital of $133.0 billion, or 11.1 percent, and Tier 1 Common1 of $105.3 billion, or 8.8 percent (estimated), at year-end
• Continued focus on sound lending and efforts to prevent foreclosures:
  - Extended more than $600 billion in new credit during 2009 to consumers, corporations, small businesses, municipalities and non-profits (including more than 18 million card, home equity, mortgage, auto and education loans)
  - Launched new initiative during the quarter to expand lending to small businesses by up to $4 billion in 2010; adding 325 small-business bankers and 100 middle- market bankers to support increased lending
  - Extended offers to modify approximately 600,000 mortgages and approved 120,000 modifications during the year

Earnings estimates from CNN Money

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