Pittsburgh-headquartered PNC Bank (NYSE:PNC) announced it will invest approximately $1 billion to open more than 100 new locations and renovate more than 1,200 existing locations through 2028.
According to the company, PNC will build and open new branches in key locations, including Austin, Dallas, Denver, Houston, Miami and San Antonio. The bank said the renovations planned for its existing locations will create a better customer experience. when conducting transactions or meeting with bankers to discuss financial goals. PNC currently has approximately 2,300 brick-and-mortar locations.
“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,” said Alex Overstrom, head of PNC Retail Banking. “Whether to finance a home, deposit a check, or save for retirement, our customers count on our 15,000 branch team members to support their holistic financial needs. By investing in our network, we are supporting our customers, our team members, and the communities where we live and work.”
PNC is the latest bank to announce the expansion of its branch network. Last week, JPMorgan Chase (NYSE:JPM) said it was planning to add 500 new branches by 2027.
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