PNC Bank has announced a $500m increase in its branch investment, aimed at opening over 100 new branches and renovating 200 existing locations across the US.
This expansion builds on the American bank holding company and financial services company’s previous plans announced in February 2024. It included 100 new branches and 1,200 branch renovations.
The new move will bring PNC Bank’s total branch investment to around $1.5bn, covering the establishment of more than 200 new branches and the renovation of 1,400 existing sites over the next five years.
PNC Bank’s branch expansion will span 12 US cities, including Austin, Dallas, Denver, Houston, Miami, and San Antonio, where the bank had previously announced new openings.
The latest plan further extends the bank’s reach, adding new branch locations in Atlanta, Charlotte, Orlando, Phoenix, Raleigh, and Tampa.
Miami will see an especially significant increase in new branches under the expanded plan.
Each new branch will be staffed with skilled bankers equipped to address clients’ financial needs, offering solutions to support customers in achieving their financial goals, said PNC Bank.
PNC Bank retail banking head Alex Overstrom said: “We fully understand that our branches play a crucial role in how we provide solutions and financial advice to the millions of clients that walk through our doors each month.
“Building on the scale of our current platform, today’s announcement further underscores our commitment to continuously invest in our branch network and empower our clients with convenient, in-person access to local financial experts.”
Currently, PNC Bank operates more than 2,200 branches. It is said to have the fourth largest branch network in the US.
The bank holding company and financial services company provides a range of retail and business banking services, including lending, corporate banking, real estate finance, asset-based lending, wealth management, and asset management services.
It serves customers through over 60,000 ATMs and offers services via its online and mobile banking platforms.
Besides, PNC Bank operates 22 mobile branches, partnering with community organisations to expand access to banking in low- and moderate-income communities.
