Cernko: Bank Shops in Austria Have to Be Reduced

People ♦ Published: October 30, 2013; 11:31 ♦ (Vindobona)

In spite of the banks’ progresses Austria still has a high densitiy in bank branches.

Cernko: Bank Shops in Austria Have to Be Reduced / Picture: © UniCredit Bank Austria

“We will see significantly less bank shops, and also engage significantly less employees,” Willibald Cernko, CEO of Bank Austria announced on Tuesday during a discussion between the governor of the Austrian National Bank and top bankers. Both he and Erwin Hameseder, President of RCB's Supervisory Board expect a consolidation in the Austrian banking industry. “We have to carry out…

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