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Too big to profit? Flaws with Dimon's JPMorgan

Breakingviews
Antony Currie
Jamie Dimon, chief executive officer of JPMorgan Chase & Co.
Andrew Harrer | Bloomberg | Getty Images

JPMorgan's sprawl is only helping so much. The mega-bank credited diversification for its better-than-expected first-quarter profit of $5.5 billion. Indeed, loans grew by nearly a fifth while investment banking stalled. Borrowers in the energy industry cost some $500 million, though. It'll take more than this performance to defend a business model on the back foot.