In Austria, the number of bank branches has shrunk considerably in recent decades, according to an evaluation of the Momentum Institute. She has fallen by around 30 percent since 2005.
There were 5046 branches 20 years ago, in 2024 there were only 3526. There were strong decreases, especially in the Raiffeisen and Sparkasse sector.
Monitor at construction clubs
For example, the number of Raiffeisen branches from 2280 fell to 1522 in 2005, and the number of 1063 to 742 branches had decreased at the savings banks. De Volksbanken also diluted their network and reduced the number of branches from 550 to 233 in the past two decades. In the Aktienbanken and Banker sector – including the Bank Austria and the Bawag – considerably fewer branches were dismantled – there were still 857 branches in 2024, after 921 in 2005. There was even growth from 56 to 72.
The costs of the credit institutions, on the other hand, have risen considerably in the same period. Since 2005, according to Momentum, there has been an increase in bank costs by 62 percent, referring to an evaluation of inflation data from Statistics Austria. The increase in the past three years (since 2022) was particularly strong.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
