Changing demands

German bank president expects branches to die out

The German bank president and head of Deutsche Bank expects a further decline in bank branches in Germany.

(Bild: AP)

The President of the Association of German Banks (BdB), Christian Sewing, expects a further decline in the number of bank branches in Germany. The number will continue to fall because customer behavior has changed, Sewing told the Funke Mediengruppe newspapers.

Nevertheless, there will still be many branches in the future, explained the president of the banking association, who is also head of Deutsche Bank.

Personal advice in demand
Many traditional branch areas such as bank transfers are now carried out online and cash is increasingly being withdrawn at supermarkets or petrol stations.

Customers mainly visit branches when they want personal advice. "For customers looking for personal advice, there will of course still be branches in the future," said Sewing.

Comprehensive structural reforms required
In view of the weak economic development, Sewing called for far-reaching reforms from the next German government. "The persistent weakness of growth in Germany can only be overcome through comprehensive structural reforms that will permanently improve investment conditions," the bank president made clear.

Despite all the problems, Sewing believes that slight economic growth of around 0.5 percent is possible for Germany in 2025. "But measured against Germany's economic potential and our investment needs, this is of course far too little in the long term," he said.