银行网点“加减法”：工行、邮储减少超百个，这些银行逆势扩张｜年报观察

Bank Branches Continue to Shrink

According to the latest annual report data compiled by Jiemian News, the total number of branches for the six major state-owned banks in 2024 decreased by over 300 compared to 2023. Among them, the Postal Savings Bank of China (601658.SH, 01658.HK) and the Industrial and Commercial Bank of China (601398.SH, 01398.HK) each saw more than 100 branches closed, while the Agricultural Bank of China (601288.SH, 01288.HK) was the only major state-owned bank to increase its number of branches.

However, the number of branches for joint-stock commercial banks remained relatively stable. Among the eight joint-stock banks that have disclosed their annual reports, only Minsheng Bank (600016.SH, 01988.HK), Pudong Development Bank (600000.SH), and Ping An Bank (000001.SZ) saw a decrease in the number of branches, while the others saw a slight increase.

"Cost and revenue imbalances are forcing banks to optimize their branch layouts. Our branch has annual rent costs of 1.3 million yuan, personnel costs of 2.7 million yuan, and equipment maintenance costs of 100,000 yuan, while community branches and micro-branches, due to insufficient economies of scale, suffer an average annual loss of over 2 million yuan," said a provincial branch manager of a state-owned bank to Jiemian News. "Some branches have been losing money for years and show no signs of improvement, so they have no choice but to close."

Industrial and Commercial Bank of China and Postal Savings Bank of China Each Close Over 100 Branches

Offline bank branches, once a crucial battleground for retail banking, are now seeing a decline in business volume due to the digital wave. Among the six major state-owned banks, as of the end of last year, the Postal Savings Bank had a total of 39,224 branches, a decrease of 140 compared to 2023, making it the bank with the most branches. The Industrial and Commercial Bank of China had 15,365 branches, down 130 from the previous year. China Construction Bank had 14,201 branches, including 14,166 domestic branches, a decrease of 89 from the previous year.

As of the end of 2024, China Bank had a total of 10,279 domestic commercial bank institutions, down 20 from the previous year. Bank of Communications had a total of 2,884 branches, including 66 overseas branches. Excluding overseas branches, the number was 2,818, a decrease of 16 from the previous year.

Agricultural Bank of China was the only major state-owned bank to increase its number of branches. As of the end of 2024, Agricultural Bank had 22,877 domestic branches, an increase of 34 from the previous year.

Among the eight joint-stock banks that have disclosed their annual reports, China Merchants Bank (600036.SH, 03968.HK), China Citic Bank (601998.SH, 00998.HK), Industrial Bank (601166.SH), China Everbright Bank (601818.SH), and China Zheshang Bank (601916.SH, 02016.HK) saw a slight increase in the number of branches. Pudong Development Bank, Ping An Bank, and Minsheng Bank saw a decrease, but the overall change was not significant.

"Joint-stock banks have relatively stable numbers of branches, which is a result of the industry's quality improvement. This trend is driven by internal factors such as digital transformation and regional adjustments, as well as external factors such as regulatory policies and market competition," said a strategic research department official from a joint-stock bank in South China to Jiemian News. "The increase in branches for joint-stock banks in recent years is more about structural adjustments rather than overall expansion."

China Post Bank researcher Lou Feipeng told Jiemian News that joint-stock banks have a relatively concentrated distribution, with many branches concentrated in economically developed areas. As business develops and the customer coverage expands, joint-stock banks gradually expand their branch network, resulting in a stable or slightly increasing number of branches.

Optimizing Branch Layouts

"Commercial banks are optimizing their branch layouts. Some branches are not profitable and have little business. With the rise of digital banks, few young people go to branches to conduct transactions, leading to a sharp decline in foot traffic, so many branches are actually unnecessary. Banks are closing branches to save costs," said a branch manager of a joint-stock bank to