PNC Bank announces $1bn investment to strengthen its branch network

PNC Bank has unveiled its plans to invest around $1bn to open more than 100 new locations and renovate more than 1,200 existing locations through 2028.

Through the investment, PNC aims to build and open new branches in key locations, including Austin, Dallas, Denver, Houston, Miami, and San Antonio, among others.

In addition to building new branches, the bank will also renovate its existing branch locations across the country to create a better customer experience.

The investment will extend access to banking services and financial expertise to customers and improve the convenience and reach of its coast-to-coast branch network, said PNC Bank.

PNC Retail Banking head Alex Overstrom said: “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.

“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 Bank, a member of The PNC Financial Services Group, is one of the largest diversified financial services institutions in the US.

The bank offers retail and business banking services, including a full range of lending products, and specialised services for corporations and government entities,

It also provides corporate banking, real estate finance and asset-based lending, wealth management and asset management services.

PNC Bank currently has around 2,300 brick-and-mortar locations across the country.

The bank also serves customers through more than 60,000 PNC and partner ATMs nationwide, along with online and mobile banking platforms and its customer care centre.

Overstrom added: “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.

“Today’s announcement further underscores our commitment to continuously invest in our branch network to effectively meet the needs of our customers in an evolving financial landscape.”