by businessam.be
published on Friday May 10, 2024 to 09:25 •
2 min read
The number of bank branches in Belgium decreased sharply in 2023. With a decrease of 9.7% compared to 2022, no fewer than 1 in 10 offices disappeared. The trend of recent years is accelerating: since 1993, more than 80% of bank branches in our country have been closed.
If we look over a period of 30 years, eight out of ten offices closed. In 1993 the number of branches was 17,757. The closures mainly affect the large banks: ING, BNP Paribas Fortis, Belfius and KBC closed 12.4% of their branches last year. Among independent banking agents, the decline was less pronounced at 6.2%. This is evident from figures from the banking federation Febelfin.
There are also fewer banks active in our country. Last year there were 79, now 77. In 1980 there were almost 100 different banks.
European trend
This rapid digitalization is a European trend, but Belgium is still doing relatively well compared to its neighbors. With 307 bank branches per million inhabitants in 2022, our country ranks seventh in Europe. Bulgaria takes the cake with 664 offices per million inhabitants, while the Netherlands has the lowest score with 41 offices per million inhabitants.
