PNC Bank is to invest a further $500 million in its coast-to-coast branch banking network in the US, adding an additional 100 new locations and revovation of 200 existing sites.
The plans expand upon the 100 new locations and 1,200 branch renovations the company announced in February.
The new spending commitment brings the bank's total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the US over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
"We fully understand that our branches play a crucial role in how we provide solutions and financial advice to the millions of clients that walk through our doors each month," says Alex Overstrom, head of retail banking, PNC Bank. "Building on the scale of our current platform, today's announcement further underscores our commitment to continuously invest in our branch network and empower our clients with convenient, in-person access to local financial experts."
PNC Bank has the fourth largest branch network in the United States with more than 2,200 branches across the country.