PNC to Invest $1 Billion in Branch Network, Open More Than 100 Sites

By Colin Kellaher

PNC Financial Services' PNC Bank unit plans to invest $1 billion over the next five years to bolster its branch network, including the opening of more than 100 new locations.

PNC, which currently has about 2,300 brick-and-mortar locations across the U.S., on Wednesday said it also plans to renovate more than 1,200 of those locations through 2028.

The Pittsburgh-based bank said it plans to open new locations in key cities such as Austin, Dallas, Denver, Houston, Miami and San Antonio.

JPMorgan Chase, the nation's biggest bank with close to 5,000 branches, last week unveiled plans to build 500 new locations in the next three years.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

02-14-24 0841ET