JPMorgan Chase poised to be 1st bank at $1 trillion
Business
JPMorgan Chase is about to make history as the first bank ever to be valued at $1 trillion.
Right now, it's sitting at around $919 billion, thanks to record profits and a strong run in dealmaking and lending, two areas where it's really leading the pack.
JPMorgan Chase posts record profit
The bank just posted the highest profit ever for a US bank, and CFO Jeremy Barnum noted that the investment banking pipeline was robust.
With its broad mix of businesses, JPMorgan has an edge over rivals. Still, experts say there's pressure to keep up this momentum in unpredictable markets.
Hitting $1 trillion is mostly symbolic, but it shows both how powerful (and how challenged) the bank is as it looks ahead.