Dimon 'feels good' at risks JPMorgan are taking

Jamie Dimon

JPMorgan executives had an explicit message for shareholders after reporting declining first-quarter earnings: Don't worry, be happy that the bank isn't chasing short-term gains by making irrational lending decisions.

Reuters reports that the first quarter was a tough one for the bank: profit fell 19%, revenue fell 8%, and the bank set aside 38% more money to cover loan losses.

But the Important thing is that the bank is not lowering its lending standards, Chief Executive Jamie Dimon told reporters.

'We feel really good about the risks we're taking ... for the future of the company', Dimon said on a conference call.

The bank will not be too aggressive in areas where it says it believes other lenders have taken leave of their senses, such as corporate lending, Chief Financial Officer Marianne Lake told analysts on a separate conference call.

To access the complete Bloomberg article hit the link below:

JPMorgan on profit drop - Be relieved we aren't taking big risks

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