Jamie Dimon, the CEO of JPMorgan Chase, has said that it’s “unlikely” that the bank will acquire another struggling bank in the near term. Dimon made these comments during a virtual investor conference hosted by Sanford C. Bernstein on Monday.

There have been rumors in the finance industry that JPMorgan Chase could look to acquire another bank, as it did during the 2008 financial crisis, when it acquired Washington Mutual and Bear Stearns. However, Dimon has now put those rumors to rest.

Dimon made it clear that while JPMorgan Chase is always open to exploring opportunities for acquisition, it is not actively seeking to acquire another bank at the moment. The CEO cited regulatory hurdles as one of the main reasons why JPMorgan Chase is hesitant to acquire other banks.

During the conference, Dimon also spoke about a range of other topics, including the state of the global economy and the challenges facing the banking sector. Dimon was optimistic about the recovery of the global economy, saying that he believes that the worst of the COVID-19 pandemic is now behind us.

However, Dimon also cautioned that there are still challenges ahead for the banking sector and the broader economy. He highlighted rising inflation as a particular concern, saying that the Federal Reserve may need to raise interest rates sooner than expected to combat inflationary pressures.

Dimon also spoke about the ongoing debate around cryptocurrency and the role it will play in the future of finance. He expressed skepticism about the long-term prospects of cryptocurrencies like Bitcoin, calling them a “fad” that will eventually die out.

Overall, Dimon’s comments during the investor conference paint a mixed picture of the current state of the global economy and the banking sector. While he was optimistic about the recovery of the global economy, he also highlighted the challenges facing banks in the current economic climate.

It remains to be seen how JPMorgan Chase will navigate these challenges in the coming months and years. For now, however, it seems that the bank is unlikely to pursue any major acquisitions in the near term.