Lin Zhiji, deputy director of the Banking Bureau, said that by the end of last year, the number of bank branches had hit the lowest level since 2012.

(Photo by reporter Wang Menglun)

[Reporter Wang Menglun/Taipei Report] Bank of China's physical branch base hits an 11-year low record!

According to the information provided by the Financial Supervisory Commission today, due to the large-scale abolition of 21 branches of foreign banks in 2022, and 4 of domestic banks, a total of 25, leaving only 3,384 branches, a record low since 2012.

　With the advent of the Fin-tech era, banks are investing in network technology innovations and closing down branches that have no real benefits, especially foreign banks are the most active.

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　Lin Zhiji, deputy director of the Banking Bureau, said that last year, there were 7 banks and 25 branch locations were abolished; among them, Standard Chartered Bank had the most, with 12 withdrawn in one go, DBS Bank ranked second with 5, and HSBC Bank also had 4. Banks: Land Bank, Yushan Bank, No. 1 Bank, and Far East Bank will each abolish one place.

　That is to say, of the 25 branch locations that were cut last year, BAIC alone accounted for 21, accounting for 84%.

　In addition, regarding the addition of branches, Lin Zhiji pointed out that Bank of China can apply to the Financial Supervisory Commission for the establishment of additional domestic branches in May and November each year. (Tainan City and New Taipei City) 2 branches, Keelung Yixin opened 1 branch (Neihu, Beishi City) and Taichung Erxin opened 1 branch (Nantun District, Taichung City).

　Lin Zhiji said that by the end of last year, there were 3,384 Bank of China branches, and the average number of domestic bank branches per 100,000 adults was 17.5.

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