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Wells Fargo’s Branches Fall Below 5,000

Wells Fargo continued to shrink the number of its branches, which fell to under 5,000. So reports Business Insider.

wells fargoDuring its first quarter earnings call, the bank said it has 4,944 branches, a 3% drop from the previous quarter. Simplifying its operations helps limit its risk from competitors gaining ground on the bank in the physical channels.

The bank also saw its profits rise to $4.74 billion during the quarter, up from $2.99 billion the previous quarter.

Read the full article from Business Insider.

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