Number of bank branches in Italy 2011-2019

The overall number of bank branches in Italy decreased to approximately 24.4 thousand in 2019, from 33.6 thousand in 2011. A decline in the number of banks and credit institutions in the country has also been noted. The number of banks in Italy decreased from 740 in 2011 to 485 in 2019.

Bank branches are becoming less needed

The decrease in the number of banks and in the number of bank branches was, as a consequence, responsible for the decrease of the number of bank employees. In 2018, the banking sector counted approximately 278 thousand employees, compared to 322.5 thousand in 2011. However, the increasing usage of new technologies was also responsible for the decrease in the number of bank branches and therefore employees in the sector. In fact, the steady growth of the online banking penetration in Italy also contributed, at least partly, to making physical branches obsolete.

Italy still lags behind in Europe

Despite increasing steadily, the online banking penetration in Italy is still rather low when compared to other European countries. The online banking penetration in the European Union reached 51 percent in 2017, compared to 31 percent in Italy. Moreover, countries like Norway, leader in the digitalization of the banking sector, reached peaks of an online banking penetration as high as 92 percent.

Number of bank branches in Italy from 2011 to 2019

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Source

Release date

March 2020

Region

Italy

Survey time period

2011 to 2019

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Statistics on "Banking in Italy"

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