Tuesday, February 7, 2023

Almost 600 bank branches gone within ten years!

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Bank branches are almost exclusively for advice. But in an increasingly beautiful atmosphere.

Jean Claude Raemy

Jean Claude RaemyEditor Economics

This caused concern, mainly among older customers: Credit Suisse (CS) recently announced that it would close 14 bank branches by February 2023. Other banks are also considering closing branches, according to a Blick survey of the 20 largest Swiss financial institutions.

Swiss people have been increasingly using online and mobile offers for their banking transactions for years and are visiting bank branches less and less. Looking back on the last ten years, the bare numbers look unpleasant: At the beginning of 2012, the banks surveyed were still operating 2,384 branches in Switzerland; at the beginning of 2022, it was 1,799. That corresponds to a decrease of 585 branches or around 25 percent!

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