JP Morgan Chase Shares Branch Expansion Plans

By the end of 2022, JP Morgan Chase hopes to cover 93% of Americans via their branch network; this amounts to an increase of 80 million consumers or about a quarter of the population compared to 2018; this news comes at a time when many consumers are shifting to mobile and online banking, but the bank noted that their growth in deposits has come from those who use branches frequently; nothing is set in stone as the bank said that there is flexibility in their plans as preferences shift; the bank also shared that they increased their technology budget to $11.5 billion in 2019 compared to $10.8 billion in 2018. Source