Fewer and fewer banks and bankers in Europe

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WBank branches, fewer bankers – in most European Union countries, this trend, which has been evident since the 2008 financial crisis, continues. This is shown by the latest preliminary figures of the European Central Bank (ECB) for the year 2018, which the central bank published in Frankfurt on Tuesday.

As a result, the number of branches decreased by an average of 7.5 percent compared to the previous year. The number of bank employees declined by 2.3 percent. However, the ECB points out that not all 28 EU countries have all data yet.

According to ECB statistics, at the end of 2018 there were still some 135,000 domestic branches of banks in the euro area countries. A year earlier, it was just over 143,000. The number of bank employees fell in the 19 states with the common currency from around 1.91 million to just over 1.85 million. EU-wide, this number fell from 2.74 million to just under 2.67 million.

In Germany – traditionally a contested banking market – the number of branches decreased according to information within one year from a good 30,000 to almost 27,900. Just under 565,000 people worked at domestic banks at the end of last year. A year earlier, there were 597,319.

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