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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...The White House and JPMorgan, the largest US bank by assets, declined to comment....
...Under the terms of JPMorgan’s investment in Viva, the bank can take full control of the fintech if its value is below €5bn in June 2025. The bank has a 48.5 per cent stake in Viva....
...and establishing a revolving credit facility with JPMorgan....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...Profits at JPMorgan Chase rose 6 per cent in the first three months of 2024 from a year earlier, despite the bank paying an extra $725mn charge by US regulators to cover the costs from last year’s regional...
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...A new unit, Chase Media Solutions, will help brands target the bank’s customers based on their spending history....
...In a 20-year period that has been lousy for banks generally, JPMorgan has kept up with the S&P 500 and, recently, beaten it....
...The bank’s burst of friendly fire comes just a few weeks after the Bank for International Settlements became the latest to flag that the explosion of option-based investment funds may be contributing to...
...The hard-nosed advice was a key tool Raghavan used to motivate employees, win deals and help transform JPMorgan into the leading global investment bank....
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...In January 2008 the market capitalisation of JPMorgan made up less than 18 per cent of that of the top 10 European banks together....
...You’ve got the very, very biggest banks, JPMorgan, Bank of America’s Wells Fargo that have been making a lot of money....
...Raghavan, 57, is a 23-year veteran of JPMorgan Chase, the largest investment bank globally, and had been promoted to sole head of investment banking last month....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...In addition, central banks have mopped up a further $155bn of gold as the likes of the People’s Bank of China have increasingly favoured the metal for their foreign exchange reserves....
...Citigroup has hired top JPMorgan investment banker Vis Raghavan to be its new head of banking, a major hire by the US bank that rounds out its top management team following a restructure last year....
...The bank’s performance received a boost by a rebound in dealmaking that has also buoyed Wall Street rivals....
...The bank said in a proxy filing also released on Monday that “an orderly CEO transition in the medium term” was a top priority for its board of directors....
...One reason the profits are gushing at JPMorgan, compared with many of its peers, is that the bank has a much lower cost of capital....
...JPMorgan Chase expects to pay about $350mn to US regulators after finding that some of its trading data was not properly processed into its surveillance system, the bank disclosed on Friday....
...JPMorgan Chase chief executive Jamie Dimon has shuffled his leadership team and consolidated some of the bank’s businesses, grooming potential candidates who could eventually replace him....
...JPMorgan has a long-standing and lucrative relationship with Disney, which, particularly under Iger’s leadership, has generated huge fees for the bank....
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