This year, six Swedbank branches will be closed down in Estonia; the number of ATMs available will be diminished by 25.
Swedbank to close branches and ATMs in Estonia
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According to Ulla Ilisson, head of retail bankingat Swedbank, the network of branches is mainly shrinked due to the fact that less people use them.
«As people increasingly favour electronic channels, the number of visitors at out branches is directly impacted. In some of the branches to be closed, the number of visitors had dropped about 40 per cent over past five years; of that, over 10 per cent last year,» said Ms Ilisson.
The ATM network, in reality, decreases by 25 machines – mainly in Tallinn and Tartu, at locations with several of them now in close vicinity.