January 29, 2009 / 9:23 AM / 10 years ago

DAVOS-JP Morgan says has 'plenty of capital'

DAVOS, Switzerland, Jan 29 (Reuters) - JPMorgan Chase & Co (JPM.N) has “plenty of capital” and wants governments to stop talking about nationalising banks, its CEO said on Thursday.

“JPMorgan would be fine if we stopped talking about (the) damn nationalisation of banks ... we’ve got plenty of capital,” Jamie Dimon said, at the annual meeting of the World Economic Forum in Davos, Switzerland.

On Jan. 15, JP Morgan reported a 76-percent fall in fourth-quarter profit as it wrote down bad loans, signalling that even the bank that has avoided the worst of the credit crunch is struggling with the recession. [ID:nN1491543]

At the time, Dimon called the results “very disappointing”.

For full coverage, blogs and TV from Davos go to www.reuters.com/davos

Reporting by Emma Thomasson; editing by Simon Jessop

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