European banks shuttered over 9000 branches last year

European banks closed over 9000 branches last year and shed 50,000 staff as customer defections to online and mobile channels surged, according to data from the European Banking Federation.

5 comments

European banks shuttered over 9000 branches last year

Editorial

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The overview shows that banks have continued to scale back their physical presence across Europe as the importance of widespread bank branch networks is reduced.

The number of bank branches in the EU declined to 189.270 in 2016, a dip of 4.6% on the previous year. The figures show an upward curve from 2015, when just three percent of the Bloc's branches were lost.

Looking across a wider timescale, European banks have shuttered more than 48,000 branches since 2008, a contraction of 20.4%.

Staff numbers also slipped, falling to 2.80 million last year from 2.85 million a year earlier. This compares to 3.26 million in 2008.

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Comments: (5)

Ray Caradine Payments Consultant at ACI

it would be interesting to also find out how many Branches have transformed to not support over the counter cash services, i.e. making them mainly information and sales outlets than the teller cash servicing. I continue to read the number of ATMs is declining, but I wonder what the trend is in terms of absolute number of Self-Servicing devices.

Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData

Late and still a lot to go..

Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData

A minority of branches handle any form of cash in most Nordic banks.. Some may still play populistic cards..

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

As Ron Shevlin points out in his Financial Brand article titled In Are Branches Dying? Or Not?, while number of branches of US banks has declined steadily over time, the number of branches per US bank has actually increased over time. Any idea what that metric looks like for European banks?

Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData

Quite a different thing to have a meeting place versus a branch handling cash  with all heavy costs

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