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.

The Pittsburgh company expects to close 32 of them in the first quarter as it revamps its branching strategy, President Bill Demchak told analysts on Tuesday at the Citigroup Financial Services Conference in Boston.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.