People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE
People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE

Chinese banks cut branches at a faster pace as costs bite and digital banking grows in popularity

  • Chinese banks closed 1,300 branches last year, and the trend has continued into this year amid rising costs and growing mobile banking popularity
  • Postal Savings Bank of China, the lender with China’s largest branch network, insists its branches still have advantages over mobile banking

Topic |   Banking & Finance
People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE
People walk in front of a China Construction Bank branch in Shanghai. China Construction Bank “closed and consolidated” 237 physical branches last year. Photo: EPA-EFE
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