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(Photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The number of branches of the four major commercial banks has decreased by 20% in five years as non-face-to-face operations have increased due to the bank's digital transformation. As banks shrink their branches, automated devices and workers such as automated teller machines (ATMs) and CD machines at their branches are also on the decline.
According to a survey of KB Kookmin, Shinhan, Hana, and Woori Bank, the number of domestic branches (branches and branches) of banks was 2,818 as of the end of last year, down 20.1% (709) from the end of 2019. In terms of branches larger than branch offices, offline operations are shrinking, with 614 disappearing to 2,628.
Kookmin Bank, which has the largest decline, has lost 254 stores in Korea over the past five years. In other words, about 51 have disappeared annually over the past five years. The number of local branches that declined over the five-year period was 165 at Shinhan Bank, 163 at Woori Bank and 127 at Hana Bank.
During the same period, automated devices such as ATMs, CDs, and utility payment machines have also decreased significantly. In Kookmin Bank, 2,868 automated devices disappeared for five years. Woori Bank and Hana Bank also saw their numbers drop by 1,304 and 1,209, respectively. Shinhan Bank saw a 1,025 decrease in automation devices over the past four years. As online banking usage accelerates, bank branches and automated devices are expected to decrease further.
As the number of branches decreases, the total number of bank employees is also decreasing. Over the past five years, the number of employees at three banks, Kookmin, Hana and Woori, has decreased by 4,165. Kookmin Bank's employees decreased by 1,590 (9%) from 17,883 at the end of 2019 to 16,293 at the end of last year. During the same period, Woori Bank's employees decreased by 1,640 and Hana Bank's 935. Shinhan Bank saw its executives and employees shrink by 578 at the end of 2022 from the end of 2019.
At the end of last year, Kookmin Bank saw its full-time employees fall by 2,490 from the end of 2019, but the number of part-time workers increased by 901. During the same period, Hana Bank saw its regular workers decrease by 1,414 and its fixed-term workers increase by 479. Woori Bank has decreased by 1,319 and 701, both regular and fixed-term workers.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
