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20,000 Bank Shops Have Closed Since Beginning of Crisis

Published: August 12, 2013; 16:56 · (Vindobona)

60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.

20,000 Bank Shops Have Closed Since Beginning of Crisis / Picture: © Flickr

Since the peak of the financial crisis in 2008, more than 20,000 bank shops have been closed within the European Union. In the last year alone the crisis-struck banking institutes have reduced the number of subsidiaries by 5.500 and by 7,200 in 2011, according to an analysis by Reuters based on data by the European Central Bank (ECB). The number of branches decreased eight percent since…

This article includes a total of 431 words.

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