09.23.24

Bank of America To Open More Than 165 New Branches by End of 2026

by: Saeed Azhar

Bank of America is on track to open more than 165 bank branches across 63 markets by the end of 2026, including 40 this year, the lender announced Monday. The expansion comes as the bank continues its consolidation strategy of closing two branches for every new one it opens. “We are reaching more and more clients through the expansion and modernization of our financial centers,” Aron Levine, president of preferred banking at Bank of America, said in a statement Monday. “While most clients are using our digital capabilities for their everyday banking, they are visiting our centers for in-person conversations about their more complex financial needs and advice on their life priorities and financial goals.” Bank of America has invested more than $5 billion in its financial centers since its current expansion project began in 2014. CEO Brian Moynihan said at a Barclays conference this month that branch investments are crucial for strengthening customer relationships across the bank.

Read the full article on Reuters