Chase will open 90 branches in new markets this year

it will open 90 branches in nine new markets, including Pittsburgh, St. Louis, and Minneapolis, and hire 700 employees by the end of 2019, starting this summer.Although some banks are shrinking their branch networks to cut costs, branches are an integral channel for Chase in driving deposits and this investment will likely accelerate growth.an uptick in engagement in digital banking channels and emphasized the importance of growing its branch network.

Part of Chase's 2019 expansion strategy involves opening branches near universities, which can allow it to onboard young consumers during a pivotal time in their financial lifecycle. Chase plans to open branches close to large universities, including Auburn University and University of Nebraska, with plans to expand further in those states more broadly in 2020.

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