In just eight years, the number of banks with branches in Euskadi and Navarra has increased from 40 to 27, mainly due to mergers.
In 2015, shortly after the economic crisis, 40 entities had their offices open in Euskadi and Navarra. Nine years later, that number has dropped to 27 entities currently represented in Hego Euskal Herria, according to data from the Bank of Spain.
The report also reflects that eight out of ten establishments are owned by five entities: Caixabank, Kutxabank, Caja Rural de Navarra, Laboral Kutxa and BBVA. Specifically, 80.8% of the branches belong to these five entitiesa figure that stood at 71.1% in 2015.
So, Caixabank has 20.5% of the bank branches in Hego Euskal Herria, Kutxabank 19.58%, National bank of Navarra 16.6%, Work 14.92% and BBVA 9.17%. Kutxanbank has the highest percentage in Bizkaia, Gipuzkoa and Alava, while Caixabank is the most common branch in Navarra.
Between 2015 and 2023, banks such as Banco Popular, Bankoa or Bankia disappeared from our streets, although some others, such as Unicaja or Singular Bank, are new.
But one of the reasons why the number of banks with a presence in our cities has been significantly reduced is the numerous and intense mergers of recent years.
This chart shows all these movements, from 2007 to today:
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
