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JPMorgan Grows Even Bigger as US Bank Giants Soak Up Assets
The Goliaths of US banking are getting even bigger after a series of regional lender failures funneled assets into giants such as JPMorgan Chase & Co., according to an analysis by S&P Global Market Intelligence. More than 70% of aggregate asset growth in major US banks was concentrated in the 10 largest lenders, which saw a combined $630 billion increase in the first quarter — when also including assets tied to more-recent mergers and acquisitions, Gaby Villaluz and Zuhaib Gull wrote in a report this week. JPMorgan saw its assets increase by an eye-popping 8.5% in that period, including growth tied to the May 1 ... (full story)