PNC closed 21 branches as the most active reducer in April, but banks overall shut down fewer branches than they did in March.
All told, U.S. banks closed 130 branches and opened 51 in April for a net reduction of 79, down from 100 in March. The 79 figure is also below the trailing 12-month average of 114.
U.S. banks operated 78,475 active branches as of April 30, according... U.S. banks closed fewer branches in April than March, S&P Global Market Intelligence said Tuesday. All told, U.S. banks closed 130 branches and opened 51 in April for a net reduction of 79, down from 100 in March. The 79 figure is also below the trailing 12-month average of 114.PNC Financial Services Group Inc. PNC closed 21 branches in April, the most of any U.S. bank. The bank did not immediately reply to a request for comment.Also read: These are the leading candidates to succeed James Gorman as Morgan Stanley CEO — and what happens nextThe bank opened a total of 114 branches in 2022.
JPMorgan has also consolidated branches at a rate comparable to that of other large banks, according to the presentation. Also read: Ex-CEO of Silicon Valley Bank not off the hook for stock sales ahead of bank collapse, law professor says
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