Wells Fargo, Citigroup and JPMorgan closed more than 250 branches in the first half of the year, accounting for 1 to 5 per cent of their networks, with more reductions expected even as some lenders expand in certain locations. San Francisco-based Wells Fargo, which had the highest branch count in the US at the start of the year, took the lead by closing 154 branches, or 3 per cent of its domestic network, and reducing headcount by 6 per cent. “Our customers are increasingly leveraging our digital capabilities,” chief financial officer Michael Santomassimo said. “These changes and others have enabled us to adjust branch staffing.”

https://www.ft.com/content/26764d8b-9c5f-420a-901c-eaed97dda412