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Italy: number of bank branches 2011-2018

Number of bank branches in Italy from 2011 to 2018

by Statista Research Department, last edited Aug 9, 2019
Italy: number of bank branches 2011-2018 The overall number of bank branches in Italy decreased to approximately 25.4 thousand in 2018, 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 505 in 2017.
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.
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Number of bank branches in Italy from 2011 to 2018

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