24th February 2024
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

Spotlight Focus: The ideal destination for Spanish businesses to thrive in Europe

Features

Spanish economy grew 2.5% in 2023 – slightly stronger than expected

News Desk

Spotlight: Save money when transferring money to and from Spain in 2024

Features

Ryanair pledges €5bn investment in Spain during meeting with Pedro Sánchez

News Desk

Spain to increase minimum wage by 5%, to €1,134 gross, over 14 payments

News Desk

Unemployment in Spain reaches its lowest level since 2007

News Desk

Leave a Comment