JPMorgan Chase & Co CEO Jamie Dimon said that it is “unlikely” that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank.
“It [First Republic] will further help advance our wealth as well as other initiatives,” Dimon said at the bank’s annual shareholder meeting on Tuesday, adding that they are in the process of integrating the lender.
Dimon’s latest statement comes just two weeks after JPMorgan bought a majority of First Republic Bank’s assets in a rescue effort backed by the U.S. government.
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