Hundreds of bank branches on the verge of closure – Consequences for customers and employees

The number of bank branches in Germany will continue to decline until the end of 2023. Branches of Postbank and Deutsche Bank are affected.

Germany / NRW – Bank customers in Germany will have significantly fewer contact points in the future than they currently do. In Postbank, several branches are to be closed by the end of 2023. And the parent company, Deutsche Bank, is also planning several closures for the same period.

Germany: Postbank will close hundreds of branches by the end of 2023

By the end of 2023, the number of postbank branches is expected to drop from about 750 currently to about 550, said head of sales for Deutsche Bank, Philipp Gosso, the German private customer business, in an interview on Tuesday (26 October). with financial news agency dpa-afx.

This would correspond to a shortfall of 100 branches per year. Indeed, Deutsche Bank’s management had set a target of closing only 50 per year. The shrinking of the postbank branch network is proceeding much faster than originally planned. The closure is to take place throughout Germany, including North Rhine-Westphalia.

Postbank: Mainly the city center affected due to the closure – 550 branches will remain for the time being

“We are closing branches mainly in cities, so that our customers still have a postbank branch,” Gosso said, referring to branches mainly in city centres.

And what about the 550 shakhas that will remain in place till the end of 2023? He is currently guaranteed a spot until 2024. What will happen to them later is uncertain.

The employees of the closing postbank branches are likely to lose their jobs.

It is also not clear what will happen to the employees of the branches that are to be closed. Many employees are likely to lose their jobs at the counter. Gasso did not want to comment on the exact scope of the job ads. However, dismantling must be “socially acceptable” – whatever that means. In the case of securities advice and installment loan brokerage, however, an increase in staff is planned.

There are hardly any customers in postbank branches – so you have to respond

The reason for the closure of branches is the revenge behavior of customers in Germany. “Customers come to the branch less for everyday concerns,” Gosso said. “You used to go to the branch for bank statement or change of address. Today many of our customers do this over the Internet or through an app.”

The same applies to the services provided by Postbank: “Post is expanding its range of Packstations to complement branches, with parcels also accepted by DHL couriers,” says Gosso, explaining that Why Postbank has always been there over the years and has closed more branches. One in four of the nearly 1,000 locations in Germany are now closed.

“Not every bank branch has to be in the best city interior” – CEO justifies closure

But Gosso doesn’t believe that banks will no longer have a future in city centers: “For advice-intensive financial decisions, such as buying a home or investing large amounts of money, the client may still have a personal conversation with a bank advisor.” Looking for.”

However, banks in the future may look different than they do now: “Not every branch needs to be in the best inner city location and have a self-service machine.” For example, in the future the only places giving advice might include rooms and offices. “It’s also very cheap,” says Gosso.

Also closed in Sparksey: Credit institution closes branches in the country

Postbank and Deutsche Bank are not the only credit institutions in Germany that have wanted to reduce their branch networks over the years. Sparksey has also closed several of its locations in recent years. However, increasingly in the country and not in city centers. Meanwhile, some branches have only one self-service machine and no counseling center anymore.

Like Postbank and Deutsche Bank, Sparkasse is reacting to the behavior of its customers: fewer and fewer people will take advantage of personalized advice. On the other hand, online banking and phone calls are in high demand.

RubriklistenBuild: © Monica Skolimovska / DPA