Austrian Banking Sector: Less Banks, More Employees

Businessn.a. ♦ Published: April 22, 2014; 08:26 ♦ (Vindobona)

Since 2000, the number of employees was up by 2,600 in the Austrian banking industry. In the same period, 165 bank shops were closed. Nevertheless, Austria is still over-banked.

Austria Still Over-Bankend / Picture: ©

In the last fourteen years, there were a number of changes in the Austrian banking landscape.

Above all, the number of independent banks was down from 841 to 676. Moreover, the number of bank shops shrank from 4,349 to 4,120. As a result, 229 banks shops were closed. The Austrian Raiffeisen Banking Group still has the highest density of bank shops. 490 “Raiffeisen Banks” are…

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