JPMorgan CEO says unlikely to acquire other struggling banks
JP MORGAN-SHAREHOLDERS/ (PIX)JPMorgan CEO says unlikely to acquire other struggling banks
JP MORGAN-SHAREHOLDERS/ (PIX)JPMorgan CEO says unlikely to acquire other struggling banks
Shares of PacWest Bancorp slid in premarket trade dragging other regional lenders down, as news that the Los Angeles-based bank was in talks about strategic options spurred market fears of a worsening financial crisis.
Only a handful of lenders have the problems that toppled Silicon Valley Bank, and when the industry starts reporting quarterly earnings next week, the numbers will probably be good, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told CNN in an interview Thursday. Asked if more bank failures might come, he said he didn’t know. “But if there are, I know honestly they’ll be resolved and it will probably be the last of them,” Dimon said. “I think we’re getting near the end of this particular crisis.”
The CEO has been touted for his rather harsh comments on the bitcoin, but is also seen lauding the use cases that come with blockchain technology. JP Morgan has its own token called JPM coin.
Even if America decides to increase its natural gas and oil production, climate change can be addressed at the same time, said Jamie Dimon, CEO of JPMorgan.
The recession threat has come at a time when the Indian economy is racing back to above-normal levels, led by broad-based improvements across consumption, investment, industry and the external sector.
Dimon emphasized a great deal on making investments in technology and operations, as well as related products and services for the banking sector, which according to him are necessary to sustain the company’s health.
JPMorgan, Goldman Sachs Group and Citigroup combined put aside $3.36 billion in credit loss reserves in the first quarter due to high inflation and Russia-Ukraine war.
Financial services firm JP Morgan is hiring 6,000 people in Bengaluru this year across tech, operations and other functions to accelerate its transformation agenda. It has taken up an additional 1.1 million sqft in Embassy Tech Village in Bengaluru.
The largest bank of the US, JPMorgan, has ventured into metaverse with the opening of a lounge in the blockchain-technology based virtual world Decentraland. JP Morgan has become the first bank to launch itself in the metaverse. If you’re wondering what a metaverse is, this blog by ZebPay will help.
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