Banking sector cuts 5,500 branches across the EU

Banks cut 5,500 branches across the European Union last year, 2.5% of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.

The previous year's cuts come after 7,200 branches were axed in 2011, according to data analysed by Reuters from European Central Bank [ECB] statistics in August 2013.

• Primary Source

EUObserver, 12.08.13: EU banks closed 5,500 branches in 2012 http://euobserver.com/economic/121084

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