Bankia and CaixaBank have merged

Bank mergers are a factor in the reduction in the number of branches.

26-09-2021Albert Gea

Over the first six months of this year, 1,476 bank branches in Spain closed. In the Balearics, 42 closed.

Latest Bank of Spain information indicates that the 112 deposit banks had 20,823 branches at the end of June, the lowest number since 1977. Compared with June 2020, there was a loss of 2,576 branches, a reduction of almost 11%.

Banks are restructuring their staff and their branch networks in order to gain efficiency and adapt to new customer behaviour - the increasing use of digital and less physical presence in branches.

By region, more branches closed in Andalusia during the first half of the year than anywhere else - 259 closures. These were followed by Catalonia (227), Madrid (184) and Castile and León (169).

Elsewhere, 63 offices closed in the Basque Country, 104 in Galicia, 26 in Asturias, 28 in Cantabria, nine in La Rioja, 32 in Murcia, 112 in Valencia, 72 in Aragon, seven in Castile-La Mancha, 86 in the Canary Islands, 26 in Navarre, 28 in Extremadura, 42 in the Balearics and two in Ceuta and Melilla.

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