J.P. Morgan to close 1,000 Chase branches on coronavirus concerns

(Reuters) – J.P. Morgan Chase and Co will temporarily shut about 1,000 bank branches to reduce the spread of the coronavirus.

Beginning Thursday, the lender is planning to close about 20% of its branches to protect employees, according to a memo seen by Reuters on Wednesday. It said business bankers and home lending advisors have the ability to work from home.

The lender is the fist among major U.S. banks to temporarily close operations as a precaution against the escalating health crisis.

(Reporting by Shradha Singh in Bengaluru; Editing by Arun Koyyur)