In January-September, 139 branches were closed and 349 employees left the system, amid the COVID-19 pandemic.
Looking at the first nine months of 2019, however, one can see that 198 branches have closed, and 151 people left the system in the past year.
Besides the pandemic, which forced most of the banking online, the shrinking of banks’ networks in the last few years also came because of cost cutting, as well as consolidation of the sector, following mergers and acquisitions and portfolio deals.
Romania’s banking infrastructure peaked in 2008, when lenders had 6,552 branches and offices, employing 71,600 people.
(English version by Loredana Fratila-Cristescu)