PNC Bank to Add 100 Locations, Renovate 1,200 Through 2028
PNC Bank will invest $1 billion to open more than 100 new locations and renovate 1,200 existing ones through 2028.
The bank currently has about 2,300 brick-and-mortar locations across the country, PNC Bank said in a Wednesday (Feb. 14) press release.
With this investment, the bank will build and open new branches in Austin, Dallas, Denver, Houston, Miami, San Antonio and other key locations to improve the reach of its branch network, according to the release.
“Our branch network is the heartbeat of our Retail business, offering friendly and convenient service to the millions of customers who step through our doors every single month,” Alex Overstrom, head of PNC Retail Banking, said in the release.
In addition to its brick-and-mortar branches, PNC Bank offers its customers access to 60,000 owned and partner ATMs, online and mobile banking platforms, and a customer care center, per the release.
“As one of the largest retail banks in the United States, our vast branch network, alongside our other core banking channels, plays a key role in how we serve and provide solutions to our customers across the country,” Overstrom said in the release.
Several of the biggest banks in the United States have been adding brick-and-mortar locations and upgrading existing branches, and plan to do so through the next several years, PYMNTS reported Thursday (Feb. 8).
For example, it was reported Feb. 6 that J.P. Morgan Chase plans to open more than 500 new bank branches over the next three years, adding them to its existing 4,897 branches and expanding its presence in areas where it lacks representation.
J.P. Morgan Chase also plans to renovate nearly 1,700 of its existing branches across the U.S. and hire 3,500 more employees for its branch network.
PYMNTS Intelligence has found that many customers still prefer to open new accounts in person, as physical bank branches allow them to receive support and better understand banks’ policies and fee structures.
In addition, 55% of customers said human interaction is an important factor in their loyalty to financial services providers, according to “Banking’s Evolution From Digital-Plus-Physical to Digital-Everywhere,” a PYMNTS Intelligence and NCR collaboration.
The post PNC Bank to Add 100 Locations, Renovate 1,200 Through 2028 first appeared on PYMNTS.com.