Iran's Bank Branch Closures Continue

Banks and credit institutions continue to reduce their local branches in the past three months, although the overall cuts are not significant, IBENA reported.

Financial Tribune- A total of 23,395 branches of banks and credit institutions were operating in Iran in the month to April 21. This is while the total number of branches was 23,549 at during the month to February 19.
The decline, however small, comes as senior authorities emphasize the need to remove unwanted and unhelpful branches to cut costs and encourage customers to embrace mobile banking instead of approaching a physical branch.

Publish Date: May 4, 2019