Wednesday, July 19, 2017

How Investors Can Cash In On Empty Bank Branches

Image result for vacant bank branchIn a move that’s expected to chop $170 million in annual expenses, Wells Fargo plans to close 450 bank branches in 2017 and 2018. That’s about 8 percent of its current network of branches.

Wells Fargo is one of many U.S. banks that is reassessing its brick-and-mortar presence as more and more customers switch to online and ATM banking. Commercial real estate services company JLL predicts a 20 percent reduction in the number of U.S. bank branches over the next five years, even as some banks selectively open new branches at a “restrained pace.”. . . more

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