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PNC Financial Services (PNC) plans to close 200 branches this year, or 6.5% of its domestic network, as part of a broad push to cut costs.
March 6 -
The Pittsburgh company's incoming chief executive, Bill Demchak, promised to follow the strategy laid out by current CEO Jim Rohr and avoid a race to the bottom for commercial loans.
April 17 -
While many bankers cite new regulations or the sluggish economy as their primary challenges, PNC's CEO-in-waiting said that an even bigger hurdle could be figuring out how to charge customers for products and services that banks currently give away for free.
March 14
PNC Financial Services Group (PNC) will close 10 branches in its hometown of Pittsburgh as part of a planned $700 million in expense cuts.
The closures will take place over the next 90 days, the
PNC has
PNC has closed four other Pittsburgh branches this year, the Post-Gazette reported.
Demchak said in March that, despite the closures, PNC would continue to open branches in locations it considers desirable. "