JPMorgan Chase & Co. (JPM) has announced plans to open approximately 100 new branches in low-income areas, including both urban and rural locations across the U.S. where bank presence has been diminishing over the years, according to a report by the Wall Street Journal.
These branches, referred to as community centers, will feature traditional banking amenities such as teller windows, ATMs, and bankers' offices. Additionally, they will offer spaces designed for hosting small businesses and financial literacy workshops, accessible to the public.
“This initiative isn’t merely altruistic; it’s a strategic business move,” the JPMorgan chief executive remarked in an interview with the Wall Street Journal.
