No. of bank branches shrinks 20% since pandemic, but agency banking pilot stalls

No. of bank branches shrinks 20% since pandemic, but agency banking pilot stalls

The total number of bank branches nationwide has fallen by nearly 20 percent since the COVID-19 pandemic, while the government’s pilot project for bank agency services, designed to improve consumer financial access, has made little headway, according to an opposition lawmaker Sunday. Rep. Choo Kyung-ho of the People Power Party cited data from the Korea Federation of Banks showing that domestic banks operated 5,654 branches at the end of 2019, b…