Chase, the consumer banking unit of JPMorgan Chase, is set to open up to 90 new branches this year in key US markets.

The bank intends to hire up to 700 employees by the end of the year as part of this expansion plan.

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Chase branch expansion: Details

Under its latest expansion plan, Chase will open branches across key locations in the states of North Carolina, South Carolina, Kansas, Minnesota, Tennessee, Pennsylvania, Rhode Island and Missouri.

It is also planning to open branches in Alabama and Nebraska close to large universities.

Chase Consumer Banking CEO Thasunda Duckett said: “This expansion marks a major milestone for our firm by allowing us to serve more customers, small businesses and communities across the country.

“To us, this is so much more than building branches. This is about new customer relationships, better access to credit, and local jobs.”

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Through these new branches, Chase aims to reach out to individual customers and local small businesses.

The new branches will feature modern design elements and collaborative spaces to conduct small group sessions focused on financial health.

Chase will begin to open these new centres from the middle of this year.

Last year, the bank announced plans to open 400 new branches in new markets over next five years.

The initiative was a part of $20bn investment aimed to bolster retail banking presence in the US.

It includes increasing staff strength by 3,000 people and increase wages of existing employees.