Indonesia to lead massive reduction of bank branches in South-East Asia

A customer (left) is attended by a Bank BCA teller in its branch on Jl. Sudirman in Yogyakarta on Sept 13. The bank has remained operational amid the pandemic by implementing health protocols. - JP

JAKARTA (The Jakarta Post/Asia News Network): Indonesia is projected to lead a significant reduction of bank branches in South-East Asia (SEA) over the coming 10 years as customers shift from physical to digital banking services, according to Roland Berger.

The Munich-based management consultancy estimates that the number of bank branches in SEA will shrink by 18 per cent in the next decade. That figure is equivalent to some 11,000 branches being shut in the region, with almost 7,000 located in Indonesia.