Christian Zwing, head of the German Banking Association, confirmed that there has been a further decline in the number of bank branches in Germany.
Zifeng, who also heads Deutsche Bank, said in press statements that the number of branches will continue to decline due to changing customer behavior, explaining that many traditional banking operations, such as bank transfers, are now being conducted online.
He added that cash is increasingly being withdrawn from large stores or gas stations, noting that customers often do not visit branches unless they want to obtain special advice, explaining that there will still be branches in the future for customers who are looking for personal advice.
Zifeng called on the next German government to implement radical reforms, pointing out that the continued weakness in economic growth in Germany can only be overcome through comprehensive structural reforms that will permanently improve investment conditions.
The head of Deutsche Bank indicated that it is possible to achieve slight economic growth of about 0.5 percent in Germany in 2025, adding that, in comparison to Germany’s economic potential and investment needs, this percentage is of course much less than necessary in the long term.
