A number of BNP Paribas Fortis offices will disappear in the course of 2019. That information is confirmed by the company. In total, the BNP Paribas Fortis branch network will have 62 fewer offices next year. No job cuts promised.
The contraction of the branch network is a consequence of digitization. More and more people are banking online, and fewer and fewer customers are entering the bank branch to manage their finances.
62 BNP Paribas Fortis offices will disappear from the streets, and four new ones are being opened. Of the offices that close, 30 are from their own network, and 32 from the network of independent offices. In addition, another 18 offices will be privatized.
It is an annual exercise by the bank. The number of visitors to physical offices is decreasing.”
No jobs are scheduled to disappear. The workers may get started in other offices. People can go to neighboring offices or get new functions, said the bank.
Digitization and changing consumer behavior are the basis of office closures. In the first half of 2018, seven percent fewer visits were made to the offices, while the number of digital contacts rose by 28 percent, BNP reported.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
