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Banks: Italy closes branches but digital does not attract

A research by the Autonomous Italian Banking Federation reported

13 August, 19:35
(ANSA) - MILANO, 13 AGO - In less than 10 years Italian banks closed 11,231 branches: there were 32,881 branches at the end of 2012, and then dropped to 23,480 in 2020 and to 21,650 at the end of 2021. A research by the Autonomous Italian Banking Federation (Fabi) reported.

Since 2012 the reduction was equal to 34.16%, while between 2020 and 2021 the contraction was 7.79%: in just one year there were 1,830 closures, Faby analysis said. There are also far fewer banks: in 2012 there were 706 credit institutions, in 2020 they went to 474 (456 in 2021).

According to the Fabi research, Italians are still not very attracted to digital banking. Despite the recent acceleration of digital evolution by the banking system, Italy is still the laggard among Western countries throughout the euro area, with just 45% of the total population preferring e-banking to branch banking services, compared to an overall average of 58%. Italy precedes only Greece (42%), Turkey (46%), Bulgaria (15%) and Romania (15%) while other countries do much better such as France (72%), Spain ( 65%) and Germany (50%). (ANSA).

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