Fascinating to see the time difference of the transformation of Retail Banking....in the period 2000-2010, 50% of the branches in Northern Europe have been closed....which was the time where in the US Branches were still openend
Just five years ago, there were more Bank of America branches in the US than Walmart stores. But in an effort to cut costs, the bank has closed about a fifth of its branches since then—and is now warning of more closures to come. “We took 1,400 branches out of the system, which is bigger than some entire companies out there,” CEO Brian Moynihan said on a July 15 call with analysts to discuss the company’s second-quarter earnings (they nearly doubled to $5.32 billion). “We expect there to be more pressure downward.” Bank of America currently has about 4,800 branches
http://qz.com/452699/a-fifth-of-bank-of-america-branches-are-gone-and-more-closures-are-coming/
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