European banks are still lagging behind the US banking industry, which has almost completely recovered from the global financial crisis, Jamie Dimon, chief executive of JPMorgan Chase & Co, told French newspaper Les Echos.
"Profits may still vary for different kinds of reasons. But if you look at the equity, outstanding loans, debt capacity, you would see the (US) banking system is sound," the chairman of the biggest bank in the US by assets was quoted by the financial daily as saying.
"It can now do its job: financing growth and employment. Unfortunately, Europe is not yet at the same stage."
