BANK OF AMERICA CORP /DE/ 10-Q form for quarterly period ended 2024-03-31, page 43: 
Item 1. Financial Statements


Bank of America Corporation and Subsidiaries

|    |                                                      |                             |         |        |      |         |    |        |
|---:|:-----------------------------------------------------|:----------------------------|:--------|:-------|:-----|:--------|:---|:-------|
|  2 | Consolidated Statement of Income                     |                             |         |        |      |         |    |        |
|  4 |                                                      | Three Months Ended March 31 |         |        |      |         |    |        |
|  5 | (In millions, except per share information)          |                             | 2024    |        | 2023 |         |    |        |
|  6 | Net interest income                                  |                             |         |        |      |         |    |        |
|  7 | Interest income                                      |                             | $       | 36,285 |      |         | $  | 28,655 |
|  8 | Interest expense                                     |                             | 22,253  |        |      | 14,207  |    |        |
|  9 | Net interest income                                  |                             | 14,032  |        |      | 14,448  |    |        |
| 11 | Noninterest income                                   |                             |         |        |      |         |    |        |
| 12 | Fees and commissions                                 |                             | 8,660   |        |      | 7,894   |    |        |
| 13 | Market making and similar activities                 |                             | 3,888   |        |      | 4,712   |    |        |
| 14 | Other income (loss)                                  |                             | (762)   |        |      | (796)   |    |        |
| 15 | Total noninterest income                             |                             | 11,786  |        |      | 11,810  |    |        |
| 16 | Total revenue, net of interest expense               |                             | 25,818  |        |      | 26,258  |    |        |
| 18 | Provision for credit losses                          |                             | 1,319   |        |      | 931     |    |        |
| 20 | Noninterest expense                                  |                             |         |        |      |         |    |        |
| 21 | Compensation and benefits                            |                             | 10,195  |        |      | 9,918   |    |        |
| 22 | Occupancy and equipment                              |                             | 1,811   |        |      | 1,799   |    |        |
| 23 | Information processing and communications            |                             | 1,800   |        |      | 1,697   |    |        |
| 24 | Product delivery and transaction related             |                             | 851     |        |      | 890     |    |        |
| 25 | Professional fees                                    |                             | 548     |        |      | 537     |    |        |
| 26 | Marketing                                            |                             | 455     |        |      | 458     |    |        |
| 27 | Other general operating                              |                             | 1,577   |        |      | 939     |    |        |
| 30 | Total noninterest expense                            |                             | 17,237  |        |      | 16,238  |    |        |
| 31 | Income before income taxes                           |                             | 7,262   |        |      | 9,089   |    |        |
| 32 | Income tax expense                                   |                             | 588     |        |      | 928     |    |        |
| 33 | Net income                                           |                             | $       | 6,674  |      |         | $  | 8,161  |
| 34 | Preferred stock dividends                            |                             | 532     |        |      | 505     |    |        |
| 35 | Net income applicable to common shareholders         |                             | $       | 6,142  |      |         | $  | 7,656  |
| 37 | Per common share information                         |                             |         |        |      |         |    |        |
| 38 | Earnings                                             |                             | $       | 0.77   |      |         | $  | 0.95   |
| 39 | Diluted earnings                                     |                             | 0.76    |        |      | 0.94    |    |        |
| 41 | Average common shares issued and outstanding         |                             | 7,968.2 |        |      | 8,065.9 |    |        |
| 42 | Average diluted common shares issued and outstanding |                             | 8,031.4 |        |      | 8,182.3 |    |        |
|    |                                                        |                             |       |       |      |       |    |        |
|---:|:-------------------------------------------------------|:----------------------------|:------|:------|:-----|:------|:---|:-------|
|  2 | Consolidated Statement of Comprehensive Income         |                             |       |       |      |       |    |        |
|  4 |                                                        | Three Months Ended March 31 |       |       |      |       |    |        |
|  5 | (Dollars in millions)                                  |                             | 2024  |       | 2023 |       |    |        |
|  6 | Net income                                             |                             | $     | 6,674 |      |       | $  | 8,161  |
|  7 | Other comprehensive income (loss), net-of-tax:         |                             |       |       |      |       |    |        |
|  8 | Net change in debt securities                          |                             | 332   |       |      | 555   |    |        |
|  9 | Net change in debit valuation adjustments              |                             | (188) |       |      | 10    |    |        |
| 10 | Net change in derivatives                              |                             | (416) |       |      | 2,042 |    |        |
| 11 | Employee benefit plan adjustments                      |                             | 23    |       |      | 10    |    |        |
| 12 | Net change in foreign currency translation adjustments |                             | (20)  |       |      | 12    |    |        |
| 13 | Other comprehensive income (loss)                      |                             | (269) |       |      | 2,629 |    |        |
| 14 | Comprehensive income (loss)                            |                             | $     | 6,405 |      |       | $  | 10,790 |

See accompanying Notes to Consolidated Financial Statements.


|    |                    |
|---:|:-------------------|
|  1 | 43 Bank of America |

, JPMORGAN CHASE & CO 10-Q form for quarterly period ended 2024-03-31, page 83: JPMorgan Chase & Co.
Consolidated statements of income (unaudited)
|    |                                                  |                              |        |      |         |    |        |
|---:|:-------------------------------------------------|:-----------------------------|:-------|:-----|:--------|:---|:-------|
|  1 |                                                  | Three months ended March 31, |        |      |         |    |        |
|  2 | (in millions, except per share data)             | 2024                         |        | 2023 |         |    |        |
|  3 | Revenue                                          |                              |        |      |         |    |        |
|  4 | Investment banking fees                          | $                            | 1,954  |      |         | $  | 1,649  |
|  5 | Principal transactions                           | 6,790                        |        |      | 7,615   |    |        |
|  6 | Lending- and deposit-related fees                | 1,902                        |        |      | 1,620   |    |        |
|  7 | Asset management fees                            | 4,146                        |        |      | 3,465   |    |        |
|  8 | Commissions and other fees                       | 1,805                        |        |      | 1,695   |    |        |
| 10 | Investment securities losses                     | (366)                        |        |      | (868)   |    |        |
| 11 | Mortgage fees and related income                 | 275                          |        |      | 221     |    |        |
| 12 | Card income                                      | 1,218                        |        |      | 1,234   |    |        |
| 13 | Other income                                     | 1,128                        |        |      | 1,007   |    |        |
| 14 | Noninterest revenue                              | 18,852                       |        |      | 17,638  |    |        |
| 15 | Interest income                                  | 47,438                       |        |      | 37,004  |    |        |
| 16 | Interest expense                                 | 24,356                       |        |      | 16,293  |    |        |
| 17 | Net interest income                              | 23,082                       |        |      | 20,711  |    |        |
| 18 | Total net revenue                                | 41,934                       |        |      | 38,349  |    |        |
| 20 | Provision for credit losses                      | 1,884                        |        |      | 2,275   |    |        |
| 22 | Noninterest expense                              |                              |        |      |         |    |        |
| 23 | Compensation expense                             | 13,118                       |        |      | 11,676  |    |        |
| 24 | Occupancy expense                                | 1,211                        |        |      | 1,115   |    |        |
| 25 | Technology, communications and equipment expense | 2,421                        |        |      | 2,184   |    |        |
| 26 | Professional and outside services                | 2,548                        |        |      | 2,448   |    |        |
| 27 | Marketing                                        | 1,160                        |        |      | 1,045   |    |        |
| 28 | Other expense                                    | 2,299                        |        |      | 1,639   |    |        |
| 29 | Total noninterest expense                        | 22,757                       |        |      | 20,107  |    |        |
| 30 | Income before income tax expense                 | 17,293                       |        |      | 15,967  |    |        |
| 31 | Income tax expense                               | 3,874                        |        |      | 3,345   |    |        |
| 32 | Net income                                       | $                            | 13,419 |      |         | $  | 12,622 |
| 33 | Net income applicable to common stockholders     | $                            | 12,942 |      |         | $  | 12,193 |
| 34 | Net income per common share data                 |                              |        |      |         |    |        |
| 35 | Basic earnings per share                         | $                            | 4.45   |      |         | $  | 4.11   |
| 36 | Diluted earnings per share                       | 4.44                         |        |      | 4.10    |    |        |
| 38 | Weighted-average basic shares                    | 2,908.3                      |        |      | 2,968.5 |    |        |
| 39 | Weighted-average diluted shares                  | 2,912.8                      |        |      | 2,972.7 |    |        |

The Notes to Consolidated Financial Statements (unaudited) are an integral part of these statements.

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Question: What is the growth rate of provisions for credit losses for Bank of America and JPMorgan Chase for the three months ended March 31, 2024, compared to the same period in 2023?
Answer: The provision for credit losses growth rate for Bank of America for the three months ended March 31, 2024, compared to the same period in 2023, is calculated as follows:
Provision for Credit Losses in 2024: $1,319 million
Provision for Credit Losses in 2023: $931 million
Provision for Credit Losses Growth Rate = (Provision for Credit Losses in 2024 - Provision for Credit Losses in 2023) / Provision for Credit Losses in 2023 * 100
Provision for Credit Losses Growth Rate for Bank of America = ($1,319 million - $931 million) / $931 million * 100 = 41.67%

The provision for credit losses growth rate for JPMorgan Chase for the three months ended March 31, 2024, compared to the same period in 2023, is calculated as follows:
Provision for Credit Losses in 2024: $1,884 million
Provision for Credit Losses in 2023: $2,275 million
Provision for Credit Losses Growth Rate = (Provision for Credit Losses in 2024 - Provision for Credit Losses in 2023) / Provision for Credit Losses in 2023 * 100
Provision for Credit Losses Growth Rate for JPMorgan Chase = ($1,884 million - $2,275 million) / $2,275 million * 100 = -17.20%