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Bank of America to open 500 new US branches

Pouyan Broukhim
|Feb 27|magazine5 min read

Within its wider strategy expansion strategy of investing into new solutions and capabilities, the Bank of America has revealed that it plans to open 500 additional financial centres across the US over the course of the next four years.

This will include its entry into Ohio, with the bank set to offer retail banking services in Cincinnati, Cleveland and Columbus.

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“The company currently provides commercial and business banking, as well as wealth management services through Merrill Lynch® to more than 775,000 relationships across Ohio,” said Bank of America. “The growth in this state follows recent similar expansions into Denver, Minneapolis and Indianapolis; Bank of America recently announced future plans to expand in Pittsburgh, as well.”

In addition to opening hundreds of new branches, the firm will look to redesign and renovate 1,500 of its existing facilities with new technology and furnishings whilst adding a further 5,400 financial professionals to its workforce in the process.

Alongside financial professionals, Bank of America employs 3,500 digital ambassadors within its branches to aid customers with better understanding and utilising the bank’s digital capabilities.

A total of 160 of these new branches have so far opened, whilst 620 of the renovations have also taken place.