EXHIBIT 23.4


                               September 30, 2002


Capitol Bancorp Limited
200 Washington Square North, 4th Floor
Lansing, Michigan  48933

     RE: DETROIT COMMERCE BANK

Ladies and Gentlemen:

     JMP  Financial,  Inc.  hereby  consents  to  your  including  a copy of the
fairness  opinion  in the proxy  statement/prospectus  with  regards  to Detroit
Commerce   Bank   and   to  the   reference   to   this   firm   in  the   proxy
statement/prospectus as financial advisor to Detroit Commerce Bank and under the
caption "Opinion of Financial Adviser".

                                        Very truly yours,

                                        /s/ John Palffy
                                        ---------------------------
                                        John Palffy
                                        President