AI-generated · cited to primary sources · not investment advice
JP Morgan Chase & Co. (JPM) Sep 2025 Filing Analysis
How durable is the business?
The distribution moat expanded on reported digital-use measures: CCB active digital customers grew from 74.041 million in Q3 2025 to 76.706 million in Q2 2026, about 3.6%, while active mobile customers grew from 60.924 million to 63.746 million, about 4.6%. Branches also increased from 5,018 to 5,135, about 2.3%. This supports broader customer reach, though the filing does not quantify a resulting cost or retention advantage. (1 expanding)
“Number of branches 5,018 ... Active digital customers 74,041 thousand ... Active mobile customers 60,924 thousand.”
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