With tech companies such as Twitter, Facebook and Squareannouncing that a large portion of its employees will work from home permanently, the US bankingindustry is deciding whether to follow the trend of keeping itsemployees remote, according to S&P Global Market Intelligence.

JP Morgan Chase, the largest bank in the US, has almost 200,000employees currently working remotely. According to Bloomberg News, the companyfound that its traders managed about three times the typicaltrading volume while working from home, making it possible that alarge percentage of employees may remain permanent remote workersto save costs on leasing office space.

However, Bank of America's CEO Brian Moynihan believes thecustomers will still prefer "to conduct business face to face."According to Moynihan on an interview with NPR, 875,000 people came intoBank of America's 4,300 branches on a single business day thatweek. Thecompany previously faced backlash for not allowingcertain positions such as traders to work from home, theFinancial Times reported. But by the end of March,Moynihan said that Bank of America had sent about 90,000 laptops toits employees in the USfor remote working. The company hadnot revealed whether workers will stay remote in the future, thoughMoynihan said the company had hired 2,000 employees in March, andalso had committed publicly to not laying off any of its 200,000 workers in2020.