Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.
JPMorgan Chase CEO Jamie Dimon isn't worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover Financial gets approved.
Dimon, speaking to CNBC's Leslie Picker from a Miami conference, acknowledged that if regulators approve the Capital One-Discover deal, his bank will be eclipsed as the nation's biggest credit-card lender.
The deal has two major components: the credit card business and the payment network, Dimon noted.
It's unclear if Capital One can create a true alternative to the dominant card networks in Visa and Mastercard with this deal, Dimon said.
Persons:
Jamie Dimon, JPMorgan, JPMorgan Chase, Jamie Dimon isn't, Dimon, CNBC's Leslie Picker, Richard Fairbank, Richard
Organizations:
JPMorgan Chase, JPMorgan, Discover Financial, Capital, Visa, Mastercard, American
Locations:
Davos, Switzerland, Miami