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The numbers of Swedish bank offices or bank branches have declined steadily over the past four years. The greatest reductions in such offices spaces or branches have been led by Swedbank, which has again closed every four of its offices.
The Swedish business daily, Dagens Industri has taken note of the changes and looked into the data from the Swedish banking association, which show that at the end of 2008, there were 1,630 bank branches in Sweden belonging to the seven banks with the largest branch offices. The number of branches had increased steadily for several years, but 2008 proved to be the breaking point.
Since then, the bank's branch network in Sweden has decreased steadily. Until today, this is a decrease of 8.5 percent to 1,492 items.
Most
dramatic has been the development in Swedbank which at the end of 2008
there where 419 branches in Sweden. Since then, more than a quarter of
Swedbank branch offices and similar branches have been closed, Dagens
Industri report. Of these, 15 branches were sold to savings banks.
The general view is that the need for physical branches have declined as more and more customers conduct their banking transactions over the internet.
The slimmest means that Swedbank currently has only three more Swedish office branches than Nordea, which admittedly also has reduced the number of offices in the past four years, but at a much slower pace than Swedbank.
Handelsbanken is the only one of the four major banks that have not reduced the number of branch offices during the period, and has thus strengthened its position as the bank with the largest Swedish branch - today it boast of a total of 461 branches.
Among the smaller banks, Danske Bank is one, which has narrowed its Swedish branch network the most during the past four years. 59 offices have been reduced to 46, a decrease of 22 percent.
Doing business on line has been blamed for most of the reduction in the branch offices.
By Scancomark.com Team
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How the Swedish banks are loosing branch offices around the country
Monday, 12 November 2012The numbers of Swedish bank offices or bank branches have declined steadily over the past four years. The greatest reductions in such offices spaces or branches have been led by Swedbank, which has again closed every four of its offices.
The Swedish business daily, Dagens Industri has taken note of the changes and looked into the data from the Swedish banking association, which show that at the end of 2008, there were 1,630 bank branches in Sweden belonging to the seven banks with the largest branch offices. The number of branches had increased steadily for several years, but 2008 proved to be the breaking point.
Since then, the bank's branch network in Sweden has decreased steadily. Until today, this is a decrease of 8.5 percent to 1,492 items.
Most
dramatic has been the development in Swedbank which at the end of 2008
there where 419 branches in Sweden. Since then, more than a quarter of
Swedbank branch offices and similar branches have been closed, Dagens
Industri report. Of these, 15 branches were sold to savings banks.The general view is that the need for physical branches have declined as more and more customers conduct their banking transactions over the internet.
The slimmest means that Swedbank currently has only three more Swedish office branches than Nordea, which admittedly also has reduced the number of offices in the past four years, but at a much slower pace than Swedbank.
Handelsbanken is the only one of the four major banks that have not reduced the number of branch offices during the period, and has thus strengthened its position as the bank with the largest Swedish branch - today it boast of a total of 461 branches.
Among the smaller banks, Danske Bank is one, which has narrowed its Swedish branch network the most during the past four years. 59 offices have been reduced to 46, a decrease of 22 percent.
Doing business on line has been blamed for most of the reduction in the branch offices.
By Scancomark.com Team
Scancomark.com
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