February 21, 2024

JPMorgan Chase & Co. CEO Jamie Dimon testifies before the Senate Banking, Housing and Urban Affairs Committee hearing titled “The Nation’s Largest Bank” at Hart Building on Sept. 22, 2022. Annual Surveillance”.

Tom Williams | CQ-Roll Name Company | Getty Images

JPMorgan Chief Executive Jamie Dimon said on Tuesday his bank was unlikely to buy another struggling lender following the government-brokered takeover of First Republic.

‘Unlikely’ was Dimon’s curt response to a shareholder asking about a takeover At the Bank of New York’s annual shareholder meeting.

Dimon added that the turmoil at midsize banks triggered by the collapse of Silicon Valley Bank in March showed that meeting regulatory requirements is not enough.

Investors in the largest U.S. bank by assets have asked Dimon and his managers about the bank’s strategy, its stance on hot-button political issues and its use of artificial intelligence tools including ChatGPT.