FILE PHOTO: A pedestrian walks past the Canary Wharf offices of JP Morgan in London September 19, 2013. REUTERS/Neil Hall

LONDON (Reuters) - JP Morgan’s mean gender pay gap in Britain dropped slightly to 34.4 percent in 2018, from 35.7 percent a year earlier, an internal memo seen by Reuters on Wednesday shows.

The pay gap, in common with other banks, reflects average hourly pay and is the result of fewer women being in higher-paying senior roles rather than unequal pay for women and men at the same rank, the U.S. bank said.

A spokesman for JP Morgan confirmed the memo’s contents.