PNC Bank, a member of The PNC Financial Services Group Inc. (NYSE: PNC), announced a $500 million increase to its branch investment with the goal of opening more than 100 additional new branches and renovating 200 more existing locations across the country.
According to the Pittsburgh-based bank, this updated goal will bring the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities over the next five years while completing the renovations of 1,400 existing branches during the same time period.
Among the locations where the branch network will be expanded are Atlanta, Charlotte, Orlando, Phoenix, Raleigh and Tampa. The bank also announced plans to meaningfully expand the number of new branches it will build in Miami.
“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,” said Alex Overstrom, head of retail banking at PNC Bank. “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.”
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