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America has not done immigration policies well, JPMorgan Chase Chairman and CEO Jamie Dimon said, voicing support for merit-based immigration. America is indispensable. It's not indispensable because we're better. It's indispensable because (we have) the best military in the world, the most prosperous nation in the world, the best economy in the world, the best technology, the roots of that technology, the freedoms we have. It's what brought people here, Dimon said. His remarks came during a conversation with Databricks CEO and Co-founder Ali Ghodsi at the Data + AI Summit 2025 in San Francisco last week. Dimon added that "America's role is indispensable. That role is economic, it's military, it's education, it's allowing people to come here, want to stay here, like more merit-based, which we should be doing. That's the most important thing." He recalled that his grandparents were Greek immigrants who never went to high school. Dimon said he has a list of policies that America did
JPMorgan's net income soared 50 per cent to more than USD 14 billion in the fourth quarter as the bank's profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year. Earnings per share rose to USD 4.81 from USD 3.04 a year ago. The result beat Wall Street profit projections of USD 4.09 a share, according to the data firm FactSet. Total managed revenue hit USD 43.7 billion, up 10 per cent, from USD 39.9 billion a year ago. Wall Street was expecting revenue of USD 41.9 billion. JPMorgan posted a record USD 54 billion profit for the year, or USD 18.22 per share, adjusted for one-time expenses. Yet interest income fell 3 per cent to USD 23.5 billion, driven lower by lower interest rates. JPMorgan CEO Jamie Dimon said the bank got a boost from investment banking business, where fees rose 49 per cent and markets revenue jumped 21 per cent. The bank's consumer banking business also thrived, with clients opening nearly 2 million check