Spain’s largest banks have been reducing the size of their branch networks in a bid to improve cost efficiencies and capture the benefits of the shift to digital, especially in light of recent big-name consolation in the sector.
According to Scope Ratings, Spanish banks have already made significant progress in branch rationalisation in over the past decade. In 2010, there were 125 branches per 100,000 of population aged between 15 and 74; in 2020, that had halved to 62.5.
