The latest publication of the European Banking Federation’s “Facts and Figures” reveal that there are changing trends in European banking.
Among the standout points of the report where:
- There has been a dramatic drop in the number of credit institutions in the EU – an astonishing 31% decrease over the last 10 years.
- Non-performing loans no longer present a problem for Europe.
- Efficiency and profits have improved.
Facts and Figures of the European Banking Industry
The report goes on to talk about the on-going contraction of the sector as banks scale back their branches and staff. Expansive branch networks no longer hold the importance they did in the past and clients are increasingly using digital means to fulfill their banking needs.
The total number of bank branches in Europe has declined by 21% over the last 10 years and just over half the population of Europe now uses the internet to carry out banking transactions. The trend away from traditional brick and mortar bank branches and towards digital banking continues to grow rapidly.
The European Banking Federation’s Facts and Figures report also includes statistics about the number of people employed by credit institutions in the EU. In 1997 the ECB began recording the number of people employed by the financial sector. In 2009 3.13 million people worked in Europe’s credit institutions; in 2016 there were 2.78 million and in 2017 that figure had dropped to 2.74 million. Approximately two-thirds of bank employees work in one of the five largest EU member countries.