Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Banking Business Review
Return to: BBR Home | News

Bank of America plans to open 500 new financial centers

BBR Staff Writer Published 27 February 2018

Bank of America (BofA) has unveiled plans to open over 500 new financial centers in the next four years, as part of its efforts to provide better services for its clients.

The move will also help BofA to enter the state of Ohio, specifically to focus on providing retail banking services in Cincinnati, Cleveland and Columbus.

The company is also planning to redesign more than 1,500 financial centers with new technology, furnishings and layouts, in addition to the opening of new financial centers.

BofA will also recruit around 5,400 certified professionals to better serve clients and fulfill diversified requirements.

As part of the new plan, the company has already renovated 620 branches and opened more than 160 new financial centers, including 13 high-technology advanced centers.

At present, BofA offers commercial and business banking, as well as wealth management services to around 775,000 clients across Ohio through Merrill Lynch.

BofA has recently expanded its operations in Denver, Minneapolis and Indianapolis, and announced plans to expand its operations in Pittsburgh.

BofA consumer and small business co-head Dean Athanasia said: “Our high-tech and high-touch approach means our team is able to help clients with their financial needs throughout their lifetimes and deliver extraordinary client care at all times, no matter how they choose to do their banking.

BofA consumer and small business co-head Thong Nguyen said: “We continue to deploy significant resources to meet the changing needs of an expanding client base, providing access to capabilities and financial professionals who will offer solutions aligned with our clients’ priorities.”

BofA offers a range of banking, investing, asset management, as well as other financial and risk management products and services for the consumers, small and middle-market businesses and large corporations.

With around 4,500 retail financial centers, BofA provides services to around 47 million consumer and small business clients.

Image: Bank of America is planning to open more than 500 new financial centers in the next four years. Photo: courtesy of Bank of America.