Banks close 5,000 branches
Between 2007 and 2011, Spanish banks closed 5,000 branches, 12% of the total, but even so, inJune this year there were still 39,521, the most in any European country. In Germany there 37,853, France has 38,323, Italy 33,561, and the UK, with almost only a quarter of that of Spain, 11,600.
A recent study reveals 35% of Spanish banks’ branch offices must close before 2014, with the loss of 41,000 of the present total of 245,956 employees.