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A new report from Celent finds that many banks plan to expand their branch networks over the next few years even though all the evidence suggests that foot traffic is declining and that most transactions are now conducted online.
May 9 -
The U.S. unit of the Spanish bank Banco Bilbao Vizcaya Argentaria kicked off a partnership with Christie's auction house by inviting private-bank customers to a special art exhibit in Dallas.
April 22
BBVA Compass has begun contracting its branch network, with the bulk of the closures in Texas.
The Birmingham, Ala., company has shuttered 18 branches so far this year and plans to close three more by the end of July, according to a
BBVA Compass, the U.S. unit of Spain's $700 billion-asset Banco Bilbao Vizcaya Argentaria (BBVA), says the closures reflect customers' increasing adoption of online banking.
"Across the industry, banks are experiencing a natural and steady migration of routine transactions away from branches to digital channels," the bank said in a statement. "Increasingly, bank branches are becoming the place where customers go to seek advice and assistance with more complex banking needs."
BBVA Compass has 688 branches throughout seven states, mostly in the Sunbelt region. It recently
