JPMorgan headquarters.[Photo/bitcoinist]
JPMorgan Chase & Co plans to expand its African presence into Ghana and Kenya.
The expansion plan has been revealed by Chief Executive Jamie Dimon.
“You’ll see us open in some countries we are not in, in Africa you’ll be hearing about some of that stuff,” Dimon told Bloomberg Television.
He made the revelations on the sidelines of the World Economic Forum meeting in Davos, Switzerland.
Dimon said the bank would target Ghana and Kenya, two countries in which local regulators have previously blocked the U.S. banking giant’s expansion plans, as alleged by media reports.
The announcement follows JPMorgan’s unveiling of a $20 billion investment plan on Tuesday which will see it hike wages, hire more, and open new branches as it takes advantage of sweeping changes to U.S. tax law and a more favourable regulatory environment.