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3/13/2019, 1:31 PM (Source: TeleTrader)
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JPMorgan challenges banks in nine US markets

JPMorgan Chase and Co. aims to open 90 domestic branches, of which most will be in Boston, Washington DC and Philadelphia, CNBC reported on Wednesday, citing an official document. Its commercial banking push, which was announced last month, is beginning with nine markets. In North Carolina, Bank of America dominates in Charlotte, where it is based, while Wells Fargo holds the top spot in Raleigh, and also in Greenville, South Carolina, the article notes.

Branches, likely branded Chase, will also be set up in Kansas City, Minneapolis, Nashville, Pittsburgh, Providence and St. Louis, the biggest lender in the United States revealed and added there is competition everywhere from big or small institutions. The area covered will include 30% with "low-to-moderate income." JPMorgan has cut the number of units by 1.8% to 5,036 last year.

Breaking the News / IT