JP Morgan Bank will open more than 500 new branches in the next three years – Kommersant

Today the largest American bank is JP Morgan Chase stated, which will expand its branch network in the United States by more than 500 branches by 2027. This goes against many years of trend, in which banks are cutting hundreds of their branches due to the fact that clients are increasingly using digital services – mobile banking, chat bots, etc. JP Morgan now has the largest branch network in the United States – about 5 thousand branches. The bank also announced that it intends to hire about 3.5 thousand new employees in retail banking.

New branches will be opened in and around major cities such as Boston, Philadelphia and Charlotte. According to media reports, in this way the bank intends to attract new clients to its services, as well as actively attract representatives of small businesses in these cities and regions. Bank representatives say that they make decisions on each specific branch, carefully calculating the feasibility of opening it in a given location.

“When we open a branch, we are not only investing in the financial well-being of local people, but also in the life of the entire local community,” explained JP Morgan head of community clients Marianne Lake.

Read about how the bank increased its assets and liabilities in Russia in the Kommersant article. “J.P. Morgan went against the trend”.

Evgeny Khvostik