It’s been a year since Silicon Valley Bank’s collapse left everyone worried that the US’s banking sector sat on shaky ground. Despite that turmoil, one bank stands out: JPMorgan Chase. The largest bank in the country, JPMorgan took home record profits in 2023, and its dominance looks set to continue. The FT’s US banking editor Joshua Franklin walks through the reasons why JPMorgan flew past its competitors, and what threat its size could pose to smaller banks.
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For further reading:
JPMorgan takes almost a fifth of total US bank profits)
US regional banks hope for profit revival as pain from SVB fallout eases)
JPMorgan: the bank that never lets a crisis go to waste)
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Read a transcript of this episode on FT.com)
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