Fewer banks, fewer branches
The overall number of banks and credits institutions in Italy decreased to 439 in 2022, from 740 in 2011. During the same period, the number of bank branches also decreased steadily.
Online banking on the rise
The decreasing number of bank branches was not only due to the decrease in the number of banks and credit institutions. The growing penetration of online banking, as well as the increasingly widespread use of banking apps via mobile devices also contributed to the gradual loss of importance of physical branches. Finally, it is important to remember the rise of new players in the banking sector: digital banks and financial services providers have caught the attention of many customers in the last few years.