07.16.26

Citizens To Exit In-store Branches, Build Standalones Nearby

by: Allissa Kline

Citizens Financial Group plans to close 100–120 supermarket branches over the next decade and replace about half with 50–60 standalone branches offering wealth management and small-business banking services. The strategy aims to attract $20–30 billion in low-cost deposits while modernizing its retail footprint, reflecting an industry-wide shift away from in-store banking. The bank reported strong second-quarter results, including a 35% increase in net income, and continues expanding its private banking business. Executives said the branch transformation, along with ongoing investments in AI and advisory services, is expected to improve efficiency and support long-term profitability.

Read the full article on American Banker