JPM · 10-Q · 2026Q3 · Full report
Investment Banking Demand Trends
JPMORGAN CHASE & CO · 2026-11-03 · Importance 52 · Surprise 56 · Matches filing data
Investment Banking revenue increased 15% in the quarter, predominantly on higher investment banking fees; fees rose 14%, predominantly from advisory activity. Advisory fees increased 32%, supported by Healthcare, Diversified Industries and Technology deals, while equity underwriting benefited from follow-on offerings and debt underwriting from non-investment grade loans. JPMorgan ranked #1 globally for investment banking fees for the quarter, according to Dealogic.
Key facts
- Total investment banking fees were $2,960 million for the three months ended September 30, 2026, compared with $2,612 million in 2025; for the nine months, fees were $9,026 million compared with $7,289 million. source
- CIB advisory fees were $1.2 billion in the third quarter of 2026, up 32%, driven by higher Healthcare, Diversified Industries and Technology deal fees, partially offset by lower Financial Institutions deal fees. source
- For the three months ended September 30, 2026, CIB investment banking revenue was $3.1 billion, up 15%, predominantly driven by higher investment banking fees; fees rose 14%, predominantly due to higher advisory fees. source
- CIB equity underwriting fees were $564 million in the third quarter of 2026, up 7%, driven by higher follow-on offering revenue, partially offset by lower private placement revenue. source
- CIB debt underwriting fees were $1.2 billion in the third quarter of 2026, up 4%, driven by higher non-investment grade loans, largely offset by lower non-investment grade bonds. source
- Third-quarter 2026 investment banking fees were up 14% year over year and down 8% quarter over quarter; CIB ranked first globally year-to-date with 9.2% wallet share. source
- The Firm ranked #1 for global investment banking fees for the three months ended September 30, 2026, according to Dealogic. source
- For the nine months ended September 30, 2026, the Firm ranked #1 for global investment banking fees, according to Dealogic. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +3.5% | Total investment banking fees were $2,960 million for the three months ended September 30, 2026, compared with $2,612 million in 2025; for… |