PIIGS Exposure: JPMorgan could lose $5 billion: report

Chief Executive Jamie Dimon gives an interview to Class CNBC.

MILAN: JPMorgan Chase and Company could lose up to $5 billion from its exposure to Portugal, Ireland, Italy, Greece and Spain, Chief Executive Jamie Dimon said in an interview with Class CNBC, carried in Italian newspaper Milano Finanza on Saturday. Dimon said the bank was exposed to the five countries (PIIGS) to the tune of around $15 billion. “We fear we could lose up to $5 billion ... We hope the worst won’t happen, but even if it did happen, I wouldn’t be pulling my hair out,” he said.

Published in The Express Tribune, January 15^th, 2012.