Why do so many vacant commercial units become bank branches?

Question

It seems that in many large US cities major banks are opening new branches. Although I can imagine why they’re desirable tenants for commercial landlords, how is leasing office space in urban areas profitable for banks at a time where more and more people do their banking online?

In: 1

Answer 1

Branch bank closures increased 38% last year, a new record. Branch banking locations peaked in 2009. The overall trend belies your observation.