JPMorgan to expand branch network with eye on retail customers

As money shifts to financial products, top U.S. bank goes after stable deposits

20230714N Chase branch Harlem

JPMorgan will increase branch openings, seeking to make connections with local communities and customers. (Photo by Yumiko Oshima) 

YUMIKO OSHIMA, Nikkei staff writer

NEW YORK -- JPMorgan Chase plans to open about 130 Chase branches nationwide per year over the next two to three years, executives told Nikkei, part of the top U.S. bank's push to gain retail and small-business customers, reliable sources of deposits.

Managing Director Racquel Oden, head of consumer bank network expansion, and Managing Director Diedra Porche, head of community and business development in the consumer banking division, talked with Nikkei about the expansion plans.

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