Dozens of bank branches closed their operations permanently, during the penultimate week of June this year.
The news is not surprising in the United States, where PNC Bank plans to close at least 40 branches a few weeks ahead.
The final closures of branches are concentrated in about 15 states in North America such as Maryland, Florida, Kentucky and Pennsylvania. They also closed down their units in Arizona, Ohio, California, Colorado, Illinois, Michigan and North Carolina.
However, this process still takes time and there are many shutdowns still pending. In this sense, Virginia will be the hardest hit, with 11 sites removed; and Texas with seven.
In addition, in both New Jersey and Alabama, five and four branches are closed, respectively. These locations had their last day of operations on Friday, June 23, 2023. Similarly, there will be 29 locations that will be canceled this summer.
Why do banks close in the United States?
by 2026, PNC Bank It plans to automate about 1,000 branches in the United States, which is 60% of all its affiliates. Therefore, the bank focuses on its banking operations via the Internet much more than those conducted in physical institutions.
More bank closures in the US
According to documents from the Office of the Comptroller of the Currency (OCC) of the United States, PNC Bank will close 47 locations in the country in 2023.
A PNC spokesperson said the bank recognizes the role branches play in its work with customers. Especially when it comes to transactions and having important financial conversations in person with banking experts.
But after reviewing PNC’s business model, strategic objectives, and potential impact on customers, some actions were taken. Among them, the decision to close 47 branches during the month of June 2023.
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