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JPMorgan Chase to open 70 new branches

JPMorganJPMorgan Chase, America’s largest bank is set to open more branches in Washington area even as several banks have been moving to cut down number of physical branches. The bank said it will have at least 70 Chase offices Washington, Maryland and Virginia by 2023 and make room for an estimated 700 new hires. Some of these branches have already received regulatory approval, the bank said. The new branches will mean households and businesses in the region can tap Chase for mortgages and small business loans. A bank spokesperson said the bank views the branches to be the heart and soul of the company and when the branches are brought to the market, the bank is expanding access to local banking and bringing new job opportunities. The bank had earlier said it plans to enter 15 to 20 new regional markets around the United States by 2023, adding 400 branches to the 5130 it has across the country.

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