Jamie Dimon says ‘unlikely’ JPMorgan Chase will acquire another bank

Jamie Dimon says ‘unlikely’ JPMorgan Chase will acquire another bank

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Committee on Banking, Housing and Cities Affairs’ hearing entitled “Annual Oversight of the Nations Largest Banks” on September 22, 2022 at the Hart Building.

Tom Williams | CQ Roll Call, Inc. | Getty Images

JPMorgan Chase CEO Jamie Dimon said Tuesday that his bank is unlikely to take on another troubled lender after the state-brokered takeover of First Republic.

“Unlikely,” was Dimon’s curt response to a shareholder asking about acquisitions during the annual shareholder meeting of the New York-based bank.

The turmoil in mid-tier banks sparked by the collapse of Silicon Valley Bank in March shows that simply meeting regulatory requirements is not enough, Dimon added.

Investors at the largest US bank by assets showered Dimon and his managers with questions about the bank’s strategy, positions on current political issues and the use of AI tools such as ChatGPT, among other things.