In Germany re are always fewer bank branches. This is result of an investigation by state funding bank KfW and University of Siegen. Thus, in years 2014 and 2015 alone, a total of 2,200 sites were closed. As a result, pace of branch closures has recently increased significantly.
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At turn of millennium, study stated that in Germany as a whole, re were still well 38,000 branches of banks, savings banks and cooperative institutes. For year 2015, study authors counted just under 28,000. This is a decline of more than a quarter. On average, approximately two percent of stores were closed each year. The analysis included only regular bank branches, which are equipped with employees and are open full-time.
“If banks maintain current dismantling rate, n in year 2035 a good half of branches existing at turn of millennium would be closed,” said KfW chief economist Jörg Zeuner. The development concerns mainly medium-sized corporate customers who asked for consulting-intensive financing. For you, staying close to bank adviser is important.
According to study, digitisation is mainly responsible for branch closures. New technologies and competitors as well as changed customer requests led to more online offers. This would include cost pressure and “reduction of overcapacity”, for example in regions with a severe decline in population.
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The survey has been affected by both rural and urban areas. The difference lies only in a few percentage points. There are exceptions in 17 regions where banking market has grown against trend. Comparatively many branches would have opened in city of Frankfurt (or) and in district of Fürth.
In comparison with population in Germany, study indicates that density of branch is roughly in middle of 28 EU countries. Numerous bank branches have also been closed in or countries since 2000. The Nerlands is refore leading rider with a decline of 66 percent of branches, followed by Denmark (minus 53 percent) and Belgium (minus 48 percent). The branch networks in France and Portugal, on or hand, were increased by almost 50 per cent.
