The Bank of Italy published a Note on Financial Stability and Supervision analysing the shrinkage of Italy’s bank branch network and households’ access to financial services, concluding that the branch reduction has not been accompanied by a deterioration in access. Between 2008 and 2022, the number of bank branches fell by around 40%, with a sharper decline in Northern Italy and a faster pace since 2015. Survey on Household Income and Wealth data show the share of households holding at least one bank or post office deposit account rose to over 97% in 2022, first supported by postal services and later by increased use of digital banking. The note highlights persistent age-related gaps in digital use, with remote users accounting for 25% of households headed by someone over 65 versus 66% among younger households, while nearly 60% of households headed by someone aged 51–64 have used digital channels.
Bank of Italy 2025-11-13
Bank of Italy finds 40% drop in bank branches since 2008 has not reduced household access as digital banking use rises
The Bank of Italy's Note on Financial Stability and Supervision finds that the 40% reduction in Italy's bank branches from 2008 to 2022 has not impaired households' access to financial services. Despite the decline, over 97% of households held a bank or post office deposit account in 2022, aided by postal services and digital banking. However, age-related disparities persist, with only 25% of households led by individuals over 65 using digital banking compared to 66% of younger households.