JP MORGAN EUROPE LIMITED
Company Information
- Company Number
- 00938937
- Registered Address
- 25 Bank Street, Canary Wharf, London, E14 5JP
- Status
- Active
- Employee Count
- 590.0
- Turnover
- 235000000.0
- EBITDA
- -150000000.0
Additional Details
- Website
- https://www.chase.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 18 September 1968
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- 0
- Region
- London
Company Location
Loading map...
Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 18 | 89% | 10% | 0% | 1% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 15 | 90% | 10% | 1% | 1% |
| 01 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 14 | 90% | 9% | 1% | 1% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 12 | 92% | 7% | 1% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 15 | 87% | 11% | 1% | 3% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 20 | 86% | 11% | 3% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 25 Jan 2021 | 21 | 79% | 18% | 3% | 7% |
| 01 Jan 2020 - 30 Jun 2020 | 20 Jul 2020 | 24 | 76% | 17% | 7% | 10% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 21 | 81% | 15% | 4% | 13% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 24 | 78% | 20% | 2% | 11% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 16 | 86% | 10% | 4% | 14% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 14 | 92% | 6% | 2% | 12% |
Company Summary
J.P
Morgan Europe Limited is the European arm of the global financial services company, J.P
Morgan
They offer a wide range of financial products and services, including investment banking, asset management, and private banking
The company is committed to sustainability and has implemented a sustainability program to reduce their environmental impact and promote social responsibility
They have set targets to reduce their greenhouse gas emissions, increase renewable energy usage, and promote diversity and inclusion within their workforce
J.P
Morgan Europe Limited has a strong team of key people, including CEO Daniel Pinto and Chairman Sir Winfried Bischoff, who bring extensive experience and expertise to the company
Their products and services cater to a diverse range of clients, from individuals to corporations and institutions
They offer investment management services, wealth management, and corporate banking solutions, among others
The company also has a strong digital presence, with a user-friendly website that provides information about their products and services, as well as access to online banking and investment platforms
The registered office address for J.P
Morgan Europe Limited is 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom
Their website address is https://www.jpmorgan.com/europe
Company Review
Trend Analysis
The average time taken for J.P. MORGAN EUROPE LIMITED to pay invoices to suppliers has increased over the past three periods, from 14 days in 2018 to 18 days in 2023. Additionally, the percentage of invoices paid within 30 days has also decreased from 92% in 2018 to 89% in 2023.
Volatility Analysis
The volatility in the average time taken for J.P. MORGAN EUROPE LIMITED to pay invoices to suppliers has been relatively stable, with only a 6-day difference between the highest and lowest values. However, there has been some fluctuation in the percentage of invoices paid within 30 days, with a 6% difference between the highest and lowest values.
Summary Analysis
Looking at the data, there has been a gradual increase in the average time taken for J.P. MORGAN EUROPE LIMITED to pay invoices to suppliers. The company's performance has been the best in the first period (2018-2019) with an average time of 14 days and 92% of invoices paid within 30 days. However, there has been a decline in performance in the most recent period (2021-2023) with an average time of 18 days and only 89% of invoices paid within 30 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Each JPMorgan Chase group company’s (JPMC) standard payment terms are “2% 10; net 60”, unless different terms are negotiated under contract or mandated by law in a particular country, meaning JPMC pays undisputed amounts within 60 days from receipt of an accurate invoice and may take a two percent discount off any amounts due under an accurate invoice as long as it pays within 10 business days from receipt. JPMC’s standard form contract typically used for higher risk engagements has standard payment terms of 2% 10; net 60 (as above). JPMC’s standard form contracts typically used for lower/minimal risk engagements have standard payment terms of 45 days after receipt of a correct invoice. JPMC’s standard purchase order terms and conditions typically used for minimal risk engagements have standard payment terms of 2% 10; net 60. Historically, Law Firms have been on pay immediate terms, but this has been problematic as it has effectively meant that JPMC is in breach of its payment obligations on receipt of legal invoices. As part of a holistic review and restructure of our master engagement terms with Law Firms, we have updated and aligned our payment obligations to our standard payment terms for other, non-legal vendors. Where payments are made by credit card (virtual card payment), payment terms have been aligned to our standard payment terms and will be evaluated against net 60-day terms rather than pay immediately upon invoice approval.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
A qualifying contract may set out a dispute resolution process. The sophistication of this process depends on the risk rating and therefore complexity of the contract, with contracts used for higher risk engagements containing a multi-tiered (or escalation) dispute resolution clause. Practically, and even in the absence of an escalation/dispute resolution clause in a qualifying contract, an internal escalation process is followed which is materially consistent, as regards JPMC, with a multi-tiered contractual clause.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
