The number of bank branches in Austria has significantly declined over the past decades, according to an analysis by the Momentum Institute. Since 2005, the total has dropped by around 30%, the institute announced on Friday. While there were 5,046 branches twenty years ago, that number fell to just 3,526 in 2024. The most substantial reductions occurred in the Raiffeisen and savings bank sectors.
Raiffeisen branches declined from 2,280 in 2005 to 1,522 today, and the number of savings bank (Sparkasse) branches dropped from 1,063 to 742. Volksbanken also sharply reduced their presence, cutting from 550 to 233 branches in two decades. In contrast, stock-based banks and private bankers—such as Bank Austria and BAWAG—saw a smaller decrease, from 921 to 857 branches. Only building societies (Bausparkassen) increased their branch count, from 56 to 72.
Meanwhile, bank fees have risen significantly. Since 2005, they’ve increased by 62%, according to Momentum’s analysis of inflation data from Statistics Austria. The sharpest hikes occurred over the last three years, since 2022.
