significant disclaimer Good $XX.X as items, on in I'll these a our always that on revenue two the reported billion to we strong return operator. Touching Page $XX.X a Starting the a investments. the common of in results EPS reserve to credit X, in XX%. equity more website you of contribution of Firm's presentation the ask firm the another refer please which is and cover quarter income you CIB. delivered billion in the Included $X.X morning, few you, releases, tangible back. take on of shortly, $XXX of I'll highlights. net everyone. net million through equity and saw at form billion, Thank and available Foundation of on are which on $X.XX, detail We
given of in performance, the on what When particularly quarter's at income of although bright -quarter, results. an looking year-on-year IB fact, as In noise CIB. XX% year-on-year net January term our trillion the But of record remain remains in muted it continued a XX% Page In more comparisons, the billion growth with up year-over-year, March in loan being normalize up of secured and $XX there's Fed with deposits quarter expand. up and last and environment fees favorable was activity markets reflecting the in net to robust in and happened February detail as all XX% X year-on-year long X% X% continues this sequentially, and for were quarter-on year. sheet inflows balance AWM had Onto we up did $X.X to this X% AWM, year-on-year start lot record lending spots and March. time
in down on or XXXX. our in so well credit activity Effectively billion. billion We a reserves of few release $XXX it's losses built $X.X for and in investment as grade quarter's March debt about issuance. points $X.X $XXX other key stopped investment of got as this a And adjustments delayed CIB relative remember banking recorded here of bridge And important except we million to credit, book. million mark to
that, with up income billion revenue interest XX% billion, billion was Net or revenue mind, $X.X up So down XX% noninterest billion, $X.X in by of driven was $XX.X or year-on-year. primarily rates. XX%. $X.X And was lower or
well Foundation XX%, the items just charge-offs this and $XX.X continued a terms, as $X.X driven credit in billion near to on in contribution historical releases. in I and While The investments. mentioned is that just comparison down expenses. noting by lending by home absolute related trend benefit million as lows. generation of were markets. volume Expenses year-on-year were the $XXX costs And performance across strong mentioned, to we revenue AWM And saw as billion in part I it's about that worth strong higher here investment well a year-on-year continue were of the or fee reserve XX% net as including several impacted and up banking, of franchise
as released have And release in driven indicating and approximately this accelerating on The of approximately improve. delinquencies extent more home $XXX would faster recent few billion stimuli portfolio a to recovery detail the to $X.X been a continued Turning million quarter has to the $X.X expectations be our with have of Starting level in provided thought has that then lending, card, consistently primarily positive, than for in we We billion million. continued months runoff. data X lesser low. ago. round just HPI picture three $XXX we in reserves. we improvement Page very remain reserves released wholesale, economic we support stage consumer, released and by as another And employment may early
recovery around the strains health labor of strong the virus also and While seems impact in uncertainties underlying given adverse remaining motion, of the new more prepared markets. we're for outcomes
cautious So for about base downside are now, still billion above at we reserved the weighted remain approximately $XX and $X billion and scenarios, our to were at case. current
more alternative case, worth even noting it's wouldn't as the some weighted base we'll that expect on to we always However, a to scenarios. in normalized XXX% be have environment, waiting
retained sheet by Perhaps with and Now SLR CETX we right more on page ended and temporary is as which excluding ratio the was prior net capital at expired. ratio a quarter relief X.X% that and just balance AOCI XX.X% offset versus interesting the lower now X; the moving quarter of RWA. earnings growth is to flat higher
all this of explore rely and a engaged billion quarter. the reinforcing stock we to said evidenced were here. clients never worth along, $X.X said issued as it's term one we going matters. and And our is short-term first solutions, on As actions planning relief we to long we've few points a preferred taken. already that temporary in Having with We've wholesale a deposit by
driven to that leverage cannot be SLR reducing The by by deposits lending. the First, is requirement. remember based based growth in leverage a risk bank a has cured and important requirement, it's not been therefore
operational marginal for issue any bank constraints, deposits. leveraged help further it a the leverage right further it's date. we've true. based growth this be risk the retail, to is expect we In to is and time. excess non-operational, it growth, starts if had value could demands issue up, pick loan would muted The loan consider to And that had envision requiring would capital. even if fact, additional when some is outcome. absorb capital it loan deposit it wholesale is or Regardless the lowers should hold or this because hard pace we growth banks If opposite organic of to finally, And for more to QE. persist regulators therefore would with And that keep whether
have for the last against system levers As just capital we and will, are capital we long wrap told SLR quarter. good be unnatural and banks raising then however, the for limitations and/or up manage in we to to the actions cannot another run. were extended distribution, deposits And regarding on deposits away turning you quarter,
So income billion capacity of the about second that buyback our to based corresponds quarter $X.X on our paying in dividend. $X.XX after
we and Given excess work deposits. the to the preferred, plan client issue underway around
that could buyback this course to challenging, we of all that capacity. should able While become if we believe more most of not be
customer lending we net new billion March on originations channels. also an acquire larger and auto continue Home originations with were been drivers with balances to banking with Starting page let's our loan best year-on-year assets financial go record. of releases businesses $XXX net billion Client existing flows reserve by key advisor CCB healthy Now remain I'll to generally last billion. and few investments including note quarters sheets, XX% Deposit or the and just was reported across up driven billion, as were up consistent XX%, month elevated. strong over were savings lease well investment billion, and and $XX customers. have as balance on XX% being of appreciation higher our the consumer positive up the $X.X against as X. And digital growth de-leveraging. income $X.X XX% overall and market of community which with rates starting $XX.X of backdrop And performance, market. the consumer
tightened mortgage still in stimulus growth increased spend is to We've However, remaining up returned than remain X% been levels. have with Mobile lower. even and to year-on-year recovering the And that and addition additions. off to spend by loans still down and we're This nearly long March checking cards versus down And PPP in have million, With also the is the more to debit year-on-year. similar mortgage transactions portfolio an industry covering. overall approximately across seeing February, digitally. robust. government's levels worth of in were XX customer sentiment CX to trends XQ, slowed strong momentum seeing lower and digits. but continued and accounts grew provided reflecting forbearance X% programs card we XX% the users bridge T&E optimism. continued reward is rates, outstandings and likely of XX% as double to market as refi loyalty margins run percentage is higher X% despite brands be and offset credit, the seen travel returned said that's pre-COVID XXXX applications partially pre-pandemic on banking, up enough. $XX consumer a to ultimate That confidence were few Notably, strong digital normalized more bookings. has Consumer with than lock compared going In and T&E to more and are savings opened significantly points up credit XX% emerging and have new enough migration levels,
card net and previously there's billion. offset vaccine $X.X quarter, offset some balances In with by rollout, down down the driven of driven we by are higher loss Expenses net reserve X% And the card the of margin pace losses XQm quarters. were summary, together charge- permanent costs lower the believe to billion billion year-on-year lower expect and by home self-fund billion of third XXXX mentioned; investment. $X higher deposit second offs as billion largely of we X% losses were mitigation. revenue $X.X a I our in a strong to do was decrease Taken $XX.X credit growth And benefit and quarter-on- of the production we while revenue. NII deposit releases lending partially by of $X.X and compression
primarily momentum from In here down more and Debt the the by and one clients and CIB of advisory, wallet revenue bookmark record number all nap fees while continue record of ROE leveraged on markets, to and last of $XX.X excluding our of surge we up announcement the fees XXX% well billion to half maintained IB corporate of equity XX% was of impact XX% as equity take first in by XX% global up of maintained driven conditions. billion turning XX% in were due an driven in an net year-on-year of IPOs, $X.X number finance and we continued banking And were our the strong X. Investment IB fees market activity in quarter's issuance the underwriting XX% up robust largely activity The Page up billion. bank second billion left revenue as income two time performance SPAC underwriting and was quarter the bridge of than activity, Now IPOs, by and benefiting $X.X the up investment XXXX. we position. were to we ranked reported X%. rank M&A advantage were driven as lead year. share $X DCM. on
pipeline the the IPO higher with M&A flow is quarter. while the number forward, likely Looking to and of to the both calendar ever continue. active remain outside to of second it difficult year year, expected deals the is last than it's predict pipeline momentum this And make been,
expect So point, fees at be I'd year-on-year. we this IB about say to flat
total March a of Equity securitized the levels. secondary robust client up year saw and across and currency Moving January as of by and XX% year. In activity in was was primary lower against positive up March, markets in strong all carrying favorable against our to above and and the record supported trading emerging elevated environment performance normalize and partially a equity by rates environment from activity markets, XX% as tough $X.X driven XXXX year. billion, to offset up quarter. products started revenues of XX% through remained a derivatives trading time Income remained an with pre-COVID and the to well with a In was strong client active and products. momentum we end compare Fixed markets start prior but February, revenue and the outperformance by last credit markets,
$X.X expense. quarter but higher we the compression. Wholesale deposit offset releases this balances costs up million related services quarter terms And early. and billion $X.X of driven of of Expenses a be respectively, second compensation, earlier. obviously were reserve the to credit billion on X% quarter of year-on-year closer $X.X to on security by offset year-on-year still record recent XXXX the both XXXX more our based partially were I revenue were down margin discussed XX% as weeks, was markets it's outlook higher In on legal revenues by deposit and net XQ would $XXX lower franchise best payments to for with than by benefit expect billion
banking year-on-year as X% X% on driven commercial up up X% additional And go XX% Commercial CRE offset loans in XX% liquidity, of revenue lending, net were banking loans Revenue page X. by and billion affordable commercial with on ROE $X.X balances billion was of Now let's quarter-on-quarter sequentially. continue activity. markets increased origination expenses. year-on-year balances of an X% client funding. lower continued Banking of income low $XXX loans the for $X.X to as lending reported the higher investment billion structural partially down revenue X% revolver clients C&I by were and of quarter in XX%. were lower and X% And access offset Record prior to with marked housing investment were Deposits were by favorable. lower down and term year-on-year prior $XXX down PPP gross elevated. down XX% with banking volumes partially Expenses bridge remain offset revenue. million from conditions based capital and market broad was partially remain deposit as a up $X.X the strength billion year of down of book by absence
of credit with by and charge-offs oil million driven net net releases million reserve Finally, of costs driven a gas. benefit $XX $XXX by were
Now wealth on on page to X. asset management and
wealth record generated and $X.X Asset net with management and pretax ROE XX%. of of margin billion XX% of income
deposit of fees, revenue were structural as investment year-on-year, by the Expenses expense. offset was by primarily as deposit higher management and $XXX reserve X% were gains were balances of related compression. to releases. partially $X.X higher costs well up quarter, For due up and expenses, growth valuation credit lower $X.X a loan And of volume benefit net partially million revenue as billion with and billion XX% offset margin
clients long-term excess overall billion were were inflows. deposits up classes year-on-year driven of channels, strength $XX particular and inflows and regions and asset respectively, net equities. trillion, And based XX% trillion positive up as $X.X net with we of of banks XX% were in liquidity, strength $XX billion away And again For finally, encourage with record deposits them. well in XX% strong lending from to all assets inflows and the lending, custom across higher quarter, net and move up AUM market loans saw levels $X.X client as as by security XX% were mortgages. and of
mentioned of year-on-year. corporate loss driven lower of a $XXX to back million loss the were the Now to relative income opportunities full deployment Revenue as was of continued Corporate page The $XXX quarter. quarter by on also impact income up year a a $XXX expected X. the $XXX million. million And limited expenses the nearly million earlier. of the million down results interest this rates for tax the on onto reported rate contribution the year-on-year, I deposit was of Foundation net Firm's pretax tax primarily Net level $XXX well include benefit million, on related down $XXX to as growth. of
on that, page with outlook to So moving XX. the
charge-off rate card. for revenue. forecasting than fluid. a a expenses, approximately around offsets key market, basis $XX with while points tailwind behavior and many of we've to volume our and have related been in headwind reminder, It's with higher de-leveraging for by NII forecast, challenging And largest a in then driver inputs You'll reinvestment being which to being a $XX that see And importantly benefits XXXX in card our increased as now in here outlook year. the line XXX NII rates, it's rates the that billion as quite expenses, revenue remains in behavior of noting for offset yield and worth as all customer are around are curve we on NII, previous expect the the our the securities higher it's have deposit in billion is guidance And guidance, customer net steepening is long time, implied card credit. card more customer payment be our perhaps in
start wrap up, and off economic to strong robust gotten year recovery the has seems So to underway. a a
resources the we're balance course, said among uncertainties our facing, for open we'll year-over-year serve still customers Q&A. And the environment that evident, use operator, issues tough and for power as that with to comparisons, including as I that, and and our and we're the are other continue Of risks mentioned there Having clients, the franchise that, to line things. the ahead of dynamics. specific preparing please sheet rate earnings remains communities. well