PNC Financial Services Group plans to close about 200 more of its bank branches this year to cut costs and better focus on serving customers in a digital world, the Pittsburgh Post-Gazette reported Wednesday.
PNC’s president and incoming CEO William Demchak announced the plan Tuesday.
PNC closed 65 branches last year across 19 states and Washington, D.C. The bank has about 2,900 branches, Demchak told analysts at a Citigroup financial services conference in Boston.
PNC also will open some branches this year “where it makes sense,” such as in underserved markets, said Mr. Demchak, who officially takes over as chief executive of the Pittsburgh region’s biggest bank in April, the newspaper reported.