22nd September 2021
CaixaBank
Banking & Finance Business

CaixaBank to prioritise digital and close 800 branches

CaixaBank has planned to close down over 800 branches out of the 4,461 now in operation in the whole of Spain by 2021, as part of its 2019-2021 strategic plan.

While some 40% of the over 3,000 branches in urban areas will be closed down, the roughly 1,000 in rural places will be kept.

The financial institution presented its project for the near future in London on Tuesday.

CaixaBank
(Image courtesy CaixaBank.com)

The strategic plan argues that the reduction of branches intends to ‘optimize’ the network throughout Spain – and in exchange digital banking will be prioritized ‘to boost efficiency and flexibility’.

The model of ‘store’ branches, focused on assessing the clients and with longer opening hours, will be in exchange increased from 285 to over 600 by 2021.

These measures aim to contribute the firm increasing its profit from 9.4% to 12% within 3 years.

CaixaBank is also looking to continue with an international expansion, as it has been doing in recent years.

Recent Posts

Spain announces small rise in minimum wage, by €15 to €965

News Desk

Spain suspends Barcelona airport expansion plans due to lack of support from Catalan government

News Desk

Minimum wage set to increase, as economy continues to recuperate

Steph Osborn

Leonardo DiCaprio, conflict-free diamonds, and a new factory in Extremadura

Steph Osborn

International tourism improves, yet Spain keen to extend its summer season

News Desk

Banco Sabadell seeking to cut 1,900 jobs and close 250 branches

News Desk

Leave a Comment