02.11.25

PNC Adding More Physical Branches To Stave Off Competitive Threats

by: Yizhu Wang

PNC Financial Services is increasing the number physical branches it operates to keep up with major competitors and stay ahead of any future consolidation of smaller competitors that could create another lender of PNC’s size. A sweet spot to earn its “fair share of deposits” is to reach 7-8% of branch share in key geographies where it operates, a goal PNC is pursuing, Chief Executive Officer William Demchak said in an interview. The bank has added 14 new branches since the beginning of 2024 as part of its plan to open more than 200 locations and invest $1.5 billion in branches.

Read the full article on Bloomberg