Banks are closing all over America, but JPMorgan still sees an opportunity

The number of physical bank branches has been falling since 2012, and has continued to drop this year, with America reportedly losing another 500+ local branches in the first six months of 2024.

But, the longer term trend hasn’t completely killed the appetite of America’s major financial institutions. This week, JPMorgan announced it would open nearly 100 new branches in America’s banking deserts, the latest addition to its branching-out policy which has seen it become the first bank with branches in all 48 contiguous states. These will be in areas out of reach from legacy branches, and will likely be focused on serving lower-income communities.

See the full article here.