Less than 1 min.Read

Bank of America to open 165 new branches by end of 2026

September 27, 2024

Bank of America (BofA) plans to expand its branch network with 165+ new locations by the end of 2026.
In 2023, BofA will open 40 new branches, adding to 100+ centres opened in the last two years.
Since 2014, BofA has invested $5 billion in expanding its financial centres, covering 63 markets.
This move aligns with similar expansions by other US banks, like Chase (500 new locations by 2027) and PNC Bank (100 by 2028).
In Europe, many banks are closing branches due to the shift toward digital banking.
Despite 95% of client interactions occurring digitally, BofA reports 10 million in-person appointments in 2022, mainly for complex financial needs and investment advice.
BofA serves 246 million people across 3,800 centres and 15,000 ATMs in 200 US markets, covering 75% of the population.