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Economy

Number of Bank Branches and Employees in Greece down in 2019, ECB Report Says

FRANKFURT, Germany — The number of bank branches and employees continued falling in Greece in 2019, at a faster pace compared with the Eurozone average, the European Central Bank said in a report on EU structural financial indicators.

The number of bank branches operating in Greece at the end of 2019 was 1,834, from 1,981 a year earlier (a decline of 7.4 pct) and 2,547 at the end of 2015 (a decline of 28 pct). In the Eurozone, the number of bank branches fell to 128,753 in 2019 from 135,057 in 2018 (-4.7 pct) and 156,065 in 2015 (-17.5 pct). The number of bank employees in Greece was 36,727 in 2019, from 39,383 in 2018 (-6.7 pct) and 46,095 in 2015 (-20.3 pct). In the Eurozone, the number of bank employees was 1,851,534 in 2019 from 1,893,189 in 2018 (-1.2 pct) and 1,997,643 in 2015 (-7.3 pct).

Greece also recorded the highest degree of concentration in the banking sector (measured by the share of assets held by the five largest banks) with 97.4 pct, up from 96.8 pct in 2018 and 95.2 pct in 2015. Estonia and Lithuania, followed through with 93 pct and 90.4 pct, respectively. while Luxembourg (27.7 pct) and Germany (31.2 pct) the lowest rates. The number of bank branches from EU member-states fell to 17 in 2019 from 18 in 2018, while the number of subsidiary banks from EU countries was two in 2019, the same as in 2018. The number of branches from banks outside the EU fell to three in 2019 from four in 2018.

Assets under the management of insurance companies and pension funds in Greece rose to 18.882 billion euros in 2019 in Greece, from 17,042 billion in 2018 and 16.650 billion in 2015.

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