Paring back branch networks is a quick way to cut costs. But executives at large regionals are reluctant to make such cuts until they have found a way to thrive at other delivery channels.
The banking industry has a lot of room to close more branches, even after shuttering thousands of offices in recent years.
“Fundamentally, the industry is at an overcapacity,” said Kevin Travis, a managing director at Novantas, a consulting firm. “There’s too much infrastructure, with too many players and too many expenses chasing too little revenue.”
Read the full article at American Banker