JPMorgan may spend $20B on an acquisition
JPMorgan Chase CEO Jamie Dimon said on Wednesday that the bank could spend as much as $20 billion on an acquisition in the next few years, AzerNEWS reports.
"There might be, in the next couple of years, a chance to put $10 [billion] or $20 billion to work buying something," Dimon said at a New York financial conference, adding that the firm is on the lookout. Such a deal would be the biggest during Dimon's 20 years as JPMorgan Chase's CEO.
JPMorgan Chase is today one of the largest financial services firms, with a market cap of around $800 billion. In recent years, it has largely expanded organically, though it acquired First Republic Bank in 2023 during the regional banking crisis.
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