Banks Close Record 1,370 Branches in 8 Months
Russian banks closed a record number of branches in seven years. Russian banks sharply accelerated the closure of their branches: in January–August 2026, credit organizations liquidated an additional 1,370 offices.
Consensus
- Russian banks closed 1,370 additional offices from January to August 2026.
- This rate of closure is the highest in at least seven years.
- The average monthly closure rate is around 196 offices.
- If the current pace continues, total closures by end of 2026 could exceed 2,000.
- The main reason for closures is the shift of customers to digital banking services.
- Banks are optimizing costs due to declining economic efficiency of physical branches.
- The previous highest number of closures in a year was 1,631 in 2022.
- The previous peak for the first eight months was 894 in 2021.
Points of divergence
- Starting March 2027, banks in Russia will be able to block financial operations if a virus is detected on a client's mobile device, but the law lacks a clear definition of 'malicious software'. — vm
- Banks accelerated branch closures due to regular mobile internet outages, which prevent remote service, and increased account blocking requiring in-person visits. — tg_moscowtimes_ru
- Some banks, including Alfa-Bank, VTB, and Dom.rf, plan to open new physical branches despite the overall trend of closures. — vesti
- Banks are not fully closing offices but transforming them into multifunctional centers or remote points with fewer staff. — vesti
- In the first half of 2026, depositors withdrew money from accounts, and there was a 20% increase in early mortgage repayments compared to the same period in 2025. — m24
Coverage (6 sources)
- Russian banks closed a record number of branches in seven years — The Moscow Times
- Izvestia: Russian banks may close more than two thousand branches this year — Вечерняя Москва
- More than 2000 bank branches may close in 2026 — Ведомости
- Russian banks close branches at record pace — Вести
- Russian banks may close more than 2,000 branches in 2026 — РИАМО
- Russian banks may close more than 2,000 branches in 2026 — Москва 24