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Payments General

JPMorgan Chase to expand with 40 new branches in the US by 2022

Friday 9 August 2019 | 01:09 PM CET

JPMorgan Chase has released the first details on new branches in North Carolina, including adding up to 21 branches in Charlotte in its 3-year expansion plan.

JPMorgan representatives have announced the bank will open up to 40 branches in North Carolina in the next three years, creating around 250 jobs. It will also add around 80 ATMs. Bank officials cut the ribbon on the first branch in Chapel Hill, one of up to 18 the bank will open in the Triangle area.

The expansion adds to the more than 1 million consumers and local businesses that JPMorgan already serves in North Carolina through commercial, private and investment banking, the bank said. The move will give customers in Charlotte one more bank to choose from, in a market where Wells Fargo and Bank of America loom large. The two banks hold around 89% of deposits in the area, according to the most recent data from the Federal Deposit Insurance Corporation.

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