Saudi: Many bank branches shut down due to digital economy

A total of 72 branches of local banks have ceased operation in the Kingdom of Saudi Arabia within a year.

There has been a fall of 3.58 percent in the number of bank branches, reaching the total branches of banks 1,941 by the end of January 2022 as against 2013 branches during the same period in January 2021. It is estimated that an average six bank branches exit the local market in a month.

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