Truist Shuttering 8 Atlanta Branches
At-home, electronic banking has changed the retail banking landscape. Banks are being forced to find a new way to handle transactions and enlist customers. Truist is continuing a trend in the industry of closing branches. The company will shutter eight branches across Georgia as part of the bank’s move to cut 4% of its locations across the country in March of 2024.
The Atlanta Business Journal reports the bank says declines in foot traffic and transaction volume in its branches drove the decision to close these locations. For most of the branches closing in Georgia there will be access to a different branch, on average, less than two miles away. Even with the closures, the company will still have 200 branches in the state.
The bank aims to reduce overhead by some $750 million over the next several quarters to improve efficiency and drive profitability.
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