1 Reason to Believe in JPMorgan Chase's Growth Prospects
JPMorgan Chase (NYSE: JPM) is America's largest bank. It is good at just about every aspect of banking, has one of the most esteemed CEOs in Jamie Dimon, and trades at a high valuation. Its continued success may have investors wondering: What's next? How will the bank continue to grow and deliver strong returns when it's already doing so well?
One reason that I believe JPMorgan still has plenty of growth ahead of it is its current retail expansion, which is now more than halfway through its five-year plan and off to a very promising start.
In 2018, JPMorgan announced a $20 billion investment that would add 400 branches in new markets over a five-year period. It may be hard to believe, considering JPMorgan has more than $3 trillion in assets, but at the time, the bank didn't have a single retail branch in major cities like Boston, Philadelphia, and Washington, D.C. This goes to show that as big as JPMorgan is, there is also still a good chunk of the country it has yet to penetrate.
Source Fool.com
