How JPMorgan thrived amid a banking crisis

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 6 March 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

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.

Clips from AP, CNBC, KTVU, KPIX

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at [email protected], or message her on X at @mtindera07.

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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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On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	AI and take action today.
0:31.0	Josh, if you were to describe U.S. banking throughout 2023 in one word, what would it be?
0:39.0	Uh, I would say panic.
0:43.2	panic.
0:46.2	panic.
0:48.2	Let's think back to then, right around this time last March. Silicon Valley Bank is on the verge of collapse.
0:56.9	And when it does, that sparks a crisis among regional banks and others fall too. It shakes America's banking sector to its core.
1:05.6	And the F.T.'s U.S. banking editor Josh Franklin says that since then,
1:10.9	many small and medium-sized banks have struggled.
1:14.0	It's really been a case of the haves and the have-nots in US banks over the last 12 months or so.
	...

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