25% of new branches will be located in majority or low-to-moderate (LMI) income areas. Credit: PiggyBank on Unsplash.

TD Bank has announced plans to open around 15 branches in Charlotte, North Carolina to cater to the city’s growing population.

The branches are expected to open by 2025, with the initial set of outlets to be opened in summer 2023 at 2020 Beatties Ford Road and 6611 Carmel Road.

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TD Bank said that at least 25% of total retail banking outlets will be opened in majority or low-to-moderate (LMI) income areas to promote financial inclusion.

The new branches are expected to generate some 100 full-time and part-time jobs in Charlotte.

With a team of 200, TD Bank operates 11 outlets in North Carolina in the Western North Carolina and Wilmington areas.

TD Bank president and CEO Leo Salom said: “Charlotte is one of the fastest-growing markets in the country, with significant economic and population growth. We recognise the need for many consumers to obtain convenient access to banking services and we look forward to serving these diverse communities.”

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The bank offers a variety of products and services including checking and savings accounts for individuals and businesses, mortgages, credit cards, home equity lines of credit and personal loans.

TD Bank head of consumer distribution, US wealth and TD Auto Finance Ernie Diaz said: “A key part of TD Bank’s culture is our passion for our customers and communities and creating legendary experiences that highlight our Unexpectedly Human brand. We are excited to provide Charlotteans with our relentless focus on customer centricity and a modern, convenient banking experience.”

Earlier this year, TD Bank brokered a $13.4bn deal to buy First Horizon in a bid to expand operations across the US.