management 2019s discussion and analysis j.p .morgan chase & co .22 j.p .morgan chase & co ./ 2003 annual report overview j.p .morgan chase & co .is a leading global finan- cial services firm with assets of $ 771 billion and operations in more than 50 countries .the firm serves more than 30 million consumers nationwide through its retail businesses , and many of the world's most prominent corporate , institutional and government clients through its global whole- sale businesses .total noninterest expense was $ 21.7 billion , down 5% ( 5 % ) from the prior year .in 2002 , the firm recorded $ 1.3 billion of charges , princi- pally for enron-related surety litigation and the establishment of lit- igation reserves ; and $ 1.2 billion for merger and restructuring costs related to programs announced prior to january 1 , 2002 .excluding these costs , expenses rose by 7% ( 7 % ) in 2003 , reflecting higher per- formance-related incentives ; increased costs related to stock-based compensation and pension and other postretirement expenses ; and higher occupancy expenses .the firm began expensing stock options in 2003 .restructuring costs associated with initiatives announced after january 1 , 2002 , were recorded in their relevant expense categories and totaled $ 630 million in 2003 , down 29% ( 29 % ) from 2002 .the 2003 provision for credit losses of $ 1.5 billion was down $ 2.8 billion , or 64% ( 64 % ) , from 2002 .the provision was lower than total net charge-offs of $ 2.3 billion , reflecting significant improvement in the quality of the commercial loan portfolio .commercial nonperforming assets and criticized exposure levels declined 42% ( 42 % ) and 47% ( 47 % ) , respectively , from december 31 , 2002 .consumer credit quality remained stable .earnings per diluted share ( 201ceps 201d ) for the year were $ 3.24 , an increase of 305% ( 305 % ) over the eps of $ 0.80 reported in 2002 .results in 2002 were provided on both a reported basis and an operating basis , which excluded merger and restructuring costs and special items .operating eps in 2002 was $ 1.66 .see page 28 of this annual report for a reconciliation between reported and operating eps .summary of segment results the firm 2019s wholesale businesses are known globally as 201cjpmorgan , 201d and its national consumer and middle market busi- nesses are known as 201cchase . 201d the wholesale businesses com- prise four segments : the investment bank ( 201cib 201d ) , treasury & securities services ( 201ctss 201d ) , investment management & private banking ( 201cimpb 201d ) and jpmorgan partners ( 201cjpmp 201d ) .ib provides a full range of investment banking and commercial banking products and services , including advising on corporate strategy and structure , capital raising , risk management , and market-making in cash securities and derivative instruments in all major capital markets .the three businesses within tss provide debt servicing , securities custody and related functions , and treasury and cash management services to corporations , financial institutions and governments .the impb business provides invest- ment management services to institutional investors , high net worth individuals and retail customers and also provides person- alized advice and solutions to wealthy individuals and families .jpmp , the firm 2019s private equity business , provides equity and mez- zanine capital financing to private companies .the firm 2019s national consumer and middle market businesses , which provide lending and full-service banking to consumers and small and middle mar- ket businesses , comprise chase financial services ( 201ccfs 201d ) .financial performance of jpmorgan chase as of or for the year ended december 31 .
[['( in millions except per share and ratio data )', '2003', '2002', 'change'], ['revenue', '$ 33256', '$ 29614', '12% ( 12 % )'], ['noninterest expense', '21688', '22764', '-5 ( 5 )'], ['provision for credit losses', '1540', '4331', '-64 ( 64 )'], ['net income', '6719', '1663', '304'], ['net income per share 2013 diluted', '3.24', '0.80', '305'], ['average common equity', '42988', '41368', '4'], ['return on average common equity ( 201croce 201d )', '16% ( 16 % )', '4% ( 4 % )', '1200bp'], ['tier 1 capital ratio', '8.5% ( 8.5 % )', '8.2% ( 8.2 % )', '30bp'], ['total capital ratio', '11.8', '12.0', '-20 ( 20 )'], ['tier 1 leverage ratio', '5.6', '5.1', '50']]
in 2003 , global growth strengthened relative to the prior two years .the u.s .economy improved significantly , supported by diminishing geopolitical uncertainties , new tax relief , strong profit growth , low interest rates and a rising stock market .productivity at u.s .businesses continued to grow at an extraor- dinary pace , as a result of ongoing investment in information technologies .profit margins rose to levels not seen in a long time .new hiring remained tepid , but signs of an improving job market emerged late in the year .inflation fell to the lowest level in more than 40 years , and the board of governors of the federal reserve system ( the 201cfederal reserve board 201d ) declared that its long-run goal of price stability had been achieved .against this backdrop , j.p .morgan chase & co .( 201cjpmorgan chase 201d or the 201cfirm 201d ) reported 2003 net income of $ 6.7 bil- lion , compared with net income of $ 1.7 billion in 2002 .all five of the firm 2019s lines of business benefited from the improved eco- nomic conditions , with each reporting increased revenue over 2002 .in particular , the low 2013interest rate environment drove robust fixed income markets and an unprecedented mortgage refinancing boom , resulting in record earnings in the investment bank and chase financial services .total revenue for 2003 was $ 33.3 billion , up 12% ( 12 % ) from 2002 .the investment bank 2019s revenue increased by approximately $ 1.9 billion from 2002 , and chase financial services 2019 revenue was $ 14.6 billion in 2003 , another record year. .

Question: what was non-interest expense as a percentage of revenue in 2003?
Answer: 65%