PNC Increases Planned Branch Investments Again to $2 Billion

PNC Financial Services Group Inc. lifted its planned investment in branches once more as the bank chases deposits in the fastest-growing US markets.

The Pittsburgh-based lender is increasing its budget to roughly $2 billion for opening new branches and renovating all its existing ones, said Alex Overstrom, head of retail banking. It’s the second increase since the plan was first laid out early last year, and doubles the original budget.