FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

JPMorgan Chase Adds 2 Million Mobile Users While Closing 30 Branches in 4Q

Tatjana KulkarnibyTatjana Kulkarni
January 15, 2019
in All Posts
Reading Time: 2 mins read
0
Share on Facebook

JPMorgan Chase & Co. saw an impressive 11% year-over-year growth of active mobile users, now totaling over 33.2 million, the bank disclosed today.

To put that growth into perspective, Wells Fargo today revealed 7% YOY growth in active mobile users during that period.

For JPMorgan Chase, this growth adds up to 2 million new users over the fourth quarter ended Dec. 31, 2018. The bank now has 49.3 million digital users (online and mobile combined), compared with 46.6 million in 4Q17, or 5.6% YOY growth. JPMorgan has had the most mobile users among banks in the U.S. for years, and that shows no sign of changing.

Bank of America, which historically has trailed behind JPMorgan over the past few years, will reveal its numbers tomorrow. Citigroup posted higher YOY growth (12%) than JPMorgan Chase, but its overall number of users is lower.

Also Read: Wells Fargo’s 4Q Performance a Mixed Bag, but Indicates More Digital Migration

JPMorgan’s focus is clearly on being “digital everything,” as its chief financial officer, Marianne Lake, put it in the bank’s earnings call this morning. Both Lake and CEO Jamie Dimon mentioned that the bank added new branches in the fourth quarter as a part of its AdvancingCities initiative to improve customer service and customer relations.

Lake declared that during the call that the bank added 10 branches in Washington, D.C., Philadelphia, and Boston.

“In the fourth quarter, we opened Chase branches in new states for the first time in nearly a decade,” Jamie Dimon, JPMorgan Chase chairman, and CEO, said in the call. “While it is early days, we’re seeing terrific results so far – and this is only the start as we continue to open branches in several new markets in the months and years to come. Our AdvancingCities initiative is supporting job and wage growth in communities that need capital the most.”

But a closer look at the financial documents reveals that the bank closed more branches than it opened. Last quarter, the bank had 30 fewer branches than it did in the previous quarter. According to the financial report, the bank had 5,036 branches in 4Q18, compared with 5,066 in the previous quarter.

JPMorgan reported net income of $7.1 billion in the fourth quarter of 2018 and $32.5 billion for all of 2018.

Tags: Bank of AmericaCitibankExclusiveJPMorgan ChasePremiumWells Fargo
Previous Post

Will Digital Technology Save Citi More Than $1 Billion Over the Next 3 Years?

Next Post

Wells Fargo’s 4Q Performance a Mixed Bag, But Reflects More Digital Migration

Related Posts

Photo credit Mike Mozart: https://www.flickr.com/photos/39160147@N03/14742853276/
All Posts

Charles Schwab launches 2 AI tools in Q2

July 21, 2026
(AI-generated)
All Posts

AI-driven ‘SaaSpocalypse’ fears overblown, experts say

April 1, 2026
All Posts

Is Your Technology Supplier There for You?

April 1, 2026
Next Post

Wells Fargo’s 4Q Performance a Mixed Bag, But Reflects More Digital Migration

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account