As the U.S. plunged into a pandemic-related recession this year, the nation’s largest bank was armed with an exceptionally strong balance sheet. JPMorgan Chase moved up three spots in the rankings from last year, thanks to a 6% increase in net revenue to a record $118.7 billion, with $2.7 trillion in assets. The company posted $36.4 billion in net income—its ninth record result in the past 10 years. However, the outlook for 2020 is less bullish thanks to the coronavirus crisis. CEO Jamie Dimon issued a warning to shareholders: Best-case scenario, he predicted, the pandemic will create “financial stress similar to the global financial crisis of 2008,” including a “meaningful” hit to profits.