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Austrian Banking Industry to Downsize Radically

Published: October 23, 2012; 18:07 · (Vindobona)

According to Bank Austria´s CEO Willibald Cernko, the Austrian banking industry must cut its number of branches radically.

Austrian Banking Industry to Downsize Radically / Picture: © UniCredit Bank Austria

At the moment, Bank Austria operates 360 branches in Austria. The Austrian subsidiary of UniCredit will lower the number of branches significantly, Cernko says. He did not tell a precise figure, however.

In the next few years, Austrian banks will reduce the number of branches by one third, Cernko explains. The number of customers per branch amounts to 2,000. In future, about…

This article includes a total of 111 words.

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