JPMorgan is donating $1m and matching contributions from employees to aid the humanitarian crisis in Ukraine after Russian forces invaded the country.

The US banking giant told employees, in a memo seen by Financial News, that it was "actively considering where to deploy our resources to best meet the growing and changing needs" in Ukraine and had settled on an initial donation of $1m. The bank will also match "employee donations dollar-for-dollar" for select charities, it added.