New York, May 29, 2026, 09:04 (EDT)
JPMorgan Chase CEO Jamie Dimon said the bank could shell out $10 billion to $20 billion for a deal sometime in the next few years, according to Bloomberg Law. Dimon told Bloomberg the bank is “on the lookout” for an acquisition.
JPMorgan looks to be holding more capital than necessary, according to Dimon. The bank is expecting $40 billion to $50 billion in excess capital above what regulations require. That’s as Washington loosens its grip on bank rules, giving big lenders more capacity for stock buybacks or acquisitions.
Dimon said JPMorgan’s investment-banking fees may go up at least 10% this quarter as big deals come up for discussion. He also said the firm’s markets revenue could be up by 11% or more. The timing isn’t random. “Big deals” are on the table, he said. Reuters
JPMorgan isn’t looking for a big break. The lender reported $4.9 trillion in assets and $364 billion in stockholders’ equity as of March 31. Shares last traded at $296.73. Market cap stands at around $821 billion.
Dimon did not give a sector or target. According to Reuters, analysts see JPMorgan eyeing fintech or artificial intelligence, since big banks have been buying up software, payments, and data platforms instead of branches.
JPMorgan doesn’t have much room left for another bank takeover. The bank is already above the 10% limit for U.S. deposits set by federal law for interstate mergers, making more deals off-limits.
First Republic has shaped thinking on new deals after regulators took over the lender in 2023 and sold assets to JPMorgan. The move wrapped up the biggest U.S. bank failure since 2008, handing JPMorgan most of First Republic’s assets along with its wealthy clients.
JPMorgan CEO Jamie Dimon said “prices are high, including JPMorgan stock” and that the bank’s capital was “not burning a hole in our pocket,” according to the Financial Times. Dimon’s message: JPMorgan is able to buy, but won’t feel pressured to do so. Financial Times
JPMorgan bumped up its 2026 expense target to roughly $106 billion, up from $105 billion, giving investors more reason to hesitate. Shares dropped almost 3% Wednesday morning after the update. Argus Research’s Stephan Biggar said the market doesn’t like even slight expense increases, especially with warnings out there that profits might not keep up.
Wall Street dealmakers keep sending the same message: activity is strong. Goldman Sachs President John Waldron said M&A volume might hit or beat the 2021 record. Wells Fargo CEO Charlie Scharf is calling for mid-teen gains in investment banking and trading. Bank of America’s Brian Moynihan said trading revenue should climb around 15%.
JPMorgan posted $16.5 billion net income for the first quarter, reporting record markets revenue at $11.6 billion. Investment-banking fees jumped 28%. CEO Jamie Dimon said the bank has “ample amounts of capital and liquidity.” JPMorgan Chase
A $20 billion buy would pose a new kind of test. The deal would have to be large enough to count, straightforward enough for JPMorgan to handle, and clear-cut for regulators. JPMorgan is prepared, just not in a hurry.
