There’s nothing official and nothing written in stone, but there were strong hints that JPMorgan Chase is looking at the City of Brotherly Love as a location for a retail branch.

The largest U.S. bank announced that it plans to spend $20 billion over the next five years to raise employee wages, increase its small business and affordable housing lending, bump up its charitable giving and expand its retail branch network, writes  Greg Ryan and Jeff Blumenthal  in the  Philadelphia Business Journal.

[uam_ad id=”54865″]

Currently, there are plans to open 400 new branches over the course of the next five years, and in a statement announcing those plans, Chase confirmed that Philadelphia was one of the locations that has been researched.

“We are a leader in 23 states, but aren’t yet in major markets like Washington D.C., Boston, Philadelphia, and many others,” Chase Consumer & Community Banking CEO Gordon Smith said in the statement. “Now that we are planning to expand into new markets, we will hire thousands of new employees and help consumers and small businesses in these areas.”

To read the complete story click here.

[uam_ad id=”54875″]