NEW YORK—JPMorgan could lose about $1 billion on its Russia exposure, Chief Executive Jamie Dimon said on Monday, detailing the extent of the bank’s potential losses from the conflict in Ukraine for the first time.
In his keenly watched annual letter to shareholders, the chairman and chief executive of the biggest U.S. bank by assets also urged the United States to increase its military presence in Europe and reiterated a call for it to develop a plan to ensure energy security for itself and its allies.
