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Branch Closures

All articles tagged with #branch closures

business2 years ago

Deutsche Bank's Postbank branch closures: A drastic cutback in sight

Deutsche Bank plans to close nearly half of its Postbank branches by mid-2026, reducing the number from 550 to around 300, in response to changing customer demand. The bank aims to transform Postbank into a "mobile-first" bank and will offer on-site advice in a new branch format at some locations. The closures are part of the bank's efforts to meet the rising demand for digital banking services and address customer service issues following the integration of its Postbank arm.

via Reuters|
#branch-closures#business#customer-service
finance2 years ago

Rapid Closure of Bank Branches Inside Supermarkets Signals Industry Shift

American banks are closing branches located within supermarket chains at a rate seven times faster than other locations, as the industry faces profit pressures and customers increasingly shift to digital channels. Regional banks, particularly those hit by the collapse of Silicon Valley Bank, have been under pressure and have closed the most in-store locations. The closure rate for in-store branches was 10.7% in the year ended June 30, compared to 1.4% for other branches. The pandemic accelerated the adoption of mobile and online banking, leading to a sharp increase in branch closures. Banks now view branches as places to attract customers with wealth management accounts, credit cards, and loans, favoring full-sized branches. Despite a slowdown in closures since the peak in 2021, branch closures remain elevated compared to pre-pandemic levels.

via CNBC|
#branch-closures#customer-migration#digital-banking