Russian Banks Speed Up Branch Closures: Over 2,000 Offices May Close by Year-End

09:02; 17 August 2026 year

### Russian Banks Close Record Number of Branches in 2026 Russian banks are rapidly reducing their physical presence, with 1,370 branches closed in the first eight months of 2026, according to a report by Izvestia. This is the fastest pace of network reduction in recent years. Data from the Central Bank of Russia shows that such a large-scale optimization of banking infrastructure has not been seen in the January-August period before. The previous highest figure was in 2021, when banks closed 894 branches in the first eight months. The largest reductions in the banking network were recorded in 2021 and 2022, with the number of branches decreasing by 1,588 and 1,631 respectively. However, in 2026, this figure has almost reached the level of those periods even before the end of the year. On average, Russian banks closed about 196 branches per month. This is roughly double the rate of last year and is the highest figure in at least seven years of observations. If the current trend continues, the number of closed branches could exceed 2,000 by the end of the year. This would be the largest reduction in the banking network in the history of statistical observations. Experts note that the final scale of optimization could be even greater. In May and June, the pace of branch closures was about one-third higher than the average level of previous months. The main reason for the reduction is a change in customer habits. More and more Russians are switching to remote banking services, with payments, transfers, and many banking products being handled through mobile apps and online services. Traditional branches remain in demand mainly for complex operations, consultations, and cash transactions. However, maintaining a large number of branches has become economically unprofitable for banks. The development of digital financial platforms and the fast payment system is also putting pressure on the offline network. Banks are gradually revising their cost structure and closing branches that no longer provide the necessary level of efficiency.

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