JPMorgan Chase has said that by the end of 2010 they plan to have opened 120 new branches and have hired over 1,000 new employees. Many analysts have said the economy will still be recovering in 2010, but JPMorgan Chase doesn’t seem to be slowed by these opinions and doesn’t plan to stop their expansion in the new year.
In the home loan modification program JPMorgan put 31% of it’s qualifying customers into either a trial home loan modification or a permanent modification for their mortgage and had one of the best home loan modification reports among some very big lenders, but they are still in the process of helping homeowners.
In 2010 many people are looking for a solution to the unemployment problem and are looking to large lending institutions like JPMorgan Chase for aid. Home loan modifications, small business lending, and in the case of JPMorgan opening 120 new banking locations, job creation.
JPMorgan’s plans to add new branches in 2010 is an obvious sign they feel the economy is going to grow throughout the new year and we can hope that more branches will be an asset to small businesses and entrepreneurs so new jobs can be created.
We’ll have to watch not just JPMorgan Chase in the new year, but also other financial institutions to see what further steps they take to aid those in need and assist the country in economic growth.
