German Bank Branch Development 2020 in One Chart
Update 28 April 2021 21:24
Deutsche Bundesbank has just revised yesterday’s erroneous branch figures:
- Branch cuts revised to minus 9.6% (from minus 11.5%), still a record though
- Deutsche Bank branch data apparently include Postbank partner branches
- Previous years remain unrevised
We are still unsure what to make of this, why the error has occured and whether it is simply a matter of double counting…
Update 27 April 2021 20:55
CORRECTION: Thx to Elisabeth Atzler, Handelsblatt, we now know, that probably ALL historical Bundesbank branch numbers are wrong.
We are still examining the fallout, but our best guess currently is:
2020 BANK BRANCHES WERE DOWN 7% YoY
– German Bank Branches Down a Record 11.5% YoY
– More than 1/10 of Branches Shut in Just One Year
– Commercial Banks Lead the Way Shutting 21.8% of Branches
Deutsche Bundesbank today published its statistics on bank branch development 2020. The result is a record decline in the number of bank branches. At minus 11.5% compared with the previous year, it was even greater than the data already published for savings banks and cooperative banks suggested. This was due to a record branch reduction of 21.8% of private banks.
Furthermore, it is remarkable that Bundesbank quite aggressively encourages German banks to cut costs and branches, charge negative interest rates to customers and raise fees.