With the advent of the internet and all sorts of new financial technologies, doing stuff with money is easier than ever. So the bank branch office should be going the way of the rotary-dial telephone, right? Actually, not so much — at least according to the latest data from International Monetary Fund. Every year, the IMF conducts a global survey to assess people’s access to financial services. Among the many indicators it tracks is the availability of commercial-bank branches (including locations offering only ATMs or other automated services). The most recent data, published earlier this month, show the number of branches per 100,000 adults holding remarkably stable in recent years. As of 2016, the population-weighted average for 134 countries and territories was 17.04. That’s down a bit from 17.49 in 2012, but still more than before the 2008 financial crisis. That’s pretty weird. For years, bankers and technology executives have — entirely reasonably — been predicting the imminen...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.