Number of Bank Branches Shrinking

Banking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság.

According to data from the National Bank of Hungary (MNB), a total of 1,638 sales units operated in Hungary in the third quarter, dropping 11.1%, or more than 200, from the year before.

The thinning of the branch network is not new in itself, as it has been a trend for years, but in the last few quarters, it seemed that the process was starting to slow down: now, however, the pace has accelerated again.

The MNB data shows that the number of bank branches has decreased by more than 1,000 in the six years since the fall of 2016.

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