New York, May 28 -- JP Morgan Chase CEO Jamie Dimon said that the bank could go for an acquisition worth up to $20 billion in coming years. He was speaking at an investor conference.

The bank is sitting on a pile of cash and is scouting the right opportunities for acquisition. Dimon said that the bank prioritised organic growth first and would look for a deal that is the right fit, WSJ reported.

"You sit around a lot of management meetings, the first thing they do when they're not doing well in organic growth is they start to bulls--t about M&A," the WSJ report quoted Dimon as saying.

"I don't want to hear about M&A." Dimon clearly laid out the path for the bank, focusing primarily on organic growth.

Several banks are ramping up spend...