The main banks in Spain have given in to the Bank of Spain’s recommendation to cut costs in order to survive the crisis. 800 offices will be closed through Spain over the coming 18 months, according to official figures released by the banks.
BBVA will close 150, Banesto 103, Banco Popular 230, Banco Pastor 30, are some of the main banks that will reduce their network of offices.
To-date 300 banks have closed throughout Spain. An estimated 800 offices are set to close, potentially affecting around 75,000 employees. The sector employs around 300,000 people in Spain.