JPMorgan Chase & Co Announces 5-year $20 billion Investment Plan
JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking.
JPMorgan Chase recently announced a five-year, $20 billion comprehensive investment that has been made possible by recent changes to the U.S. corporate tax system, a more constructive regulatory business environment, and the company’s durable and continued business performance.
The long-term investment focuses on five areas:
1. Investing in its employees by increasing wages and benefits.
2. Expanding the network of branches into new places in the U.S. in order to increase small business lending and philanthropic investments, leading to more support for local low and moderate-income communities.
3. Community-based philanthropic investments will increase to $1.75 billion over the five years.
4. Increase lending to small business by $4 billion.
5. Accelerating commercial lending to build affordable housing and increasing mortgage lending to low- and moderate-income communities in order to accelerate affordable housing lending.
Jamie Dimon, Chairman and CEO, JPMorgan Chase, stated, “Having a healthy, strong company allows us to make these long-term, sustainable investments. We are excited about further investing in our outstanding workforce and expanding into new U.S. markets. When we enter a community, we enter it with the full force of JPMorgan Chase behind it. We hire people. We lend to and support local businesses. We help customers with banking, lending and saving. And we align our business and philanthropic efforts to help more communities benefit from a growing economy. This company has made a significant economic impact in all of the communities we operate in, and we are excited to become an even more relevant part of many others.”