Jamie Dimon says it’s ‘unlikely’ that JPMorgan Chase will acquire another struggling bank


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Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Sept. 22, 2022.
Tom Williams | CQ-Roll Call, Inc. | Getty Images

JPMorgan Chase CEO Jamie Dimon said Tuesday that it’s not likely his bank would acquire another struggling lender after its government-brokered acquisition of First Republic.

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

The turmoil in mid-sized banks sparked by the Silicon Valley Bank collapse in March shows that merely meeting regulatory requirements isn’t enough, Dimon added.

Investors of the biggest U.S. bank by assets peppered Dimon and his managers with questions about the bank’s strategy, positions on hot-button political issues and use of AI tools including ChatGPT, among other topics.

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