Loan demand and trading slowdown hits JPMorgan in Q1

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

Consumer & Community Banking revenue of $10.5B fell 10% from a year ago, with net income of $1.9B off 25%. Net interest income of $7B fell 3%. Noninterest revenue of $3.4B fell 22% as mortgage business continues to evaporate (off 68% from a year ago). Credit loss provisions rose to $816M from $549M a year ago. Noninterest expense of $6.4B fell 5% from last year as jobs were cut in mortgage banking.

Corporate & Investment Bank net income of $2B fell 24% from a year ago on revenue of $8.6B off 15% (DVA alters the numbers a bit, but not materially). Fixed income markets revenue of $3.8B fell 21% from last year.

Commercial Banking net income of $578M fell 3% from a year ago on revenue of $1.7B off 1%.

Dividend this quarter is going to $0.40 per share from $0.38. $400M of stock bought back in Q1; authorization of $6.5B through Q1 of 2015.

ROTCE of 13%; Basel III Tier 1 common ratio of 9.5%.

CC at 8:30 ET

Q1 results

Shares -2.4% premarket