In a bold move reported by Rajashree Chakravarty in Banking Dive, PNC has announced its plans to invest approximately $1 billion to open 100 new branches and renovate existing ones by 2028. The expansive strategy aims to strengthen the Pittsburgh-headquartered bank’s presence in key locations, including Denver, Miami, Dallas, Houston, San Antonio, and Austin.
PNC Enhances Customer Experience with Branch Renovations
The PNC expansion is not just about growth, it’s also about enhancing customer experience. Over 1,200 of PNC’s existing 2,300 branches will undergo renovations. “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.
The focus is shifting from transaction-based to advice-based interactions, with the new and renovated branches featuring more welcoming and private spaces for in-person conversations. Customers will continue to have access to everyday financial transactions through ATMs, video banking machines, and other options. Nonetheless, the bank brand intends to maintain a personal touch. “This investment is expected to create hundreds of jobs nationwide,” a PNC spokesperson noted.
PNC and the Retail Banking Industry: Branch Expansion in a Digital Age
The PNC expansion plan comes after JPMorgan Chase’s announcement to add over 500 branches by 2027, focusing on underrepresented areas.
It’s a customer-service strategy that seems to be rippling nationwide across the industry. Other financial institutions signaling similar expansion plans include:
The Fifth Third effort is being concentrated specifically in the Southeast U.S. market.
PNC Strategically Rebalancing Its Banking Branch Network
This announcement follows a year in which PNC closed approximately 239 of its branches, about 10 percent of its network, and reduced its headcount by four percent, or roughly 2,400 employees.
For more details on PNC’s $1 billion branch expansion plan and commitment to enhancing the customer experience, read the full article by Rajashree Chakravarty on Banking Dive. As Alex Overstrom emphasizes, this expansion “… further underscores our commitment to continuously invest in our branch network to effectively meet the needs of our customers in an evolving financial landscape.”
