(Bloomberg) -- JPMorgan Chase, the biggest U.S. lender, is closing more than 5% of its branches as the firm cuts costs and as more consumers use digital devices to bank.

About 300 branches will shut by the end of 2016, according to a presentation Tuesday on the New York-based company’s website. JPMorgan had 5,602 branches at the end of 2014, a decline from 5,630 the prior year. It didn’t specify which locations will close.

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