(Corrects name of newspaper and reference to it as a financial
PARIS, April 9 European banks are still lagging
behind the U.S. banking industry, which has almost completely
recovered from the global financial crisis, Jamie Dimon, chief
executive of JPMorgan Chase & Co, told French newspaper
"Profits may still vary for different kinds of reasons. But
if you look at the equity, outstanding loans, debt capacity, you
would see the (U.S.) banking system is sound," the chairman of
the biggest bank in the United States by assets was quoted by
the newspaper as saying.
"It can now do its job: financing growth and employment.
Unfortunately, Europe is not yet at the same stage."
Five-and-a-half years after the bankruptcy of Lehman
Brothers, the Federal Reserve said in late March that U.S. big
banks have sufficient capital buffers to withstand a drastic
economic downturn, announcing that 29 out of 30 major banks met
the minimum hurdle in its annual health check.
The European Central Bank is now probing European banks'
balance sheets as part of a bigger plan to harmonise banking
supervision, aiming to avert a repeat of the debt crisis which
cost trillions in taxpayer bailouts.
Asked if JPMorgan had turned the page in terms of legal
investigations and settlements, Dimon was quoted by the
newspaper as saying "the bulk of the problems are behind us".
The bank agreed to around $20 billion in legal settlements
in 2013. Dimon said in January that some investigations into
JPMorgan were just beginning, implying that legal issues were
likely to dog the bank for some time, even if on a smaller
(Reporting by Maya Nikolaeva; Editing by Mark Potter)