• EREs and early retirements mark the worst year for employment in banking

Spain has gone from having

88 financial entities

in 2008 with a workforce of

276,497 workers

to having, at the end of 2020,

10 banking groups that employ 160,000 people.

This has caused, as reported by the CCOO on Tuesday, an overload of work for employees and poorer customer service.

Today the country has

23,673 bank branches less

than fourteen years ago and

105,000 fewer workers

, despite the fact that

the population has grown by one million people

and, predictably, the number of bank customers as well.

Despite the fact that the data is at the end of 2020, in

2021

there has been the voluntary departure of another

18,000 professionals:

3,572 from

Banco Santander,

6,452 from

CaixaBank

, 2,935 from

BBVA

, 3,405 from

Banco Sabadell

and 1,513 from

Unicaja

, the union has denounced .

Between 2008 and 2020,

banking entities lost 38% of their workforce

,

twice

as much as those of

European banks,

which today have 19.6% fewer employees.

"This process

has substantially increased the care load

-inhabitants to be served by each worker in the sector-, from

167.2 inhabitants in 2008

to

276.1 in 2020

, well above the 186.5 in the Eurozone , and on the way to exceeding the figure of 300, if there is not a sufficient replacement rate," warned the organization led by

Unai Sordo.

After the departures of 2021, the replacement rates stand at 7%, calculating the entry of only 1,300 new workers.

His report has been presented after Carlos, a 78-year-old man from Valencia, gained national fame in January after publishing on Change.org a collection of signatures to get face-to-face attention at banks.

The uproar was such that he even met with the first vice president, Nadia Calviño.

4,500 municipalities without branches

According to data released this Tuesday by the CCOO, the cutback in personnel in the sector has been parallel to the

decrease in offices,

since the country has gone from having

10 offices for every 10,000 inhabitants in 2008 to 4.7 in 2020

.

The communities in which there have been more closures are Catalonia, Castilla y León, Galicia and Asturias.

At the end of 2021, there are

4,500 municipalities

in Spain -accommodating 3.5% of the population- in

which there is no bank branch.

"This reduction occurs at a time when it

is strategic for credit to flow

both due to the allocation of resources that we are going to have to manage by the

Next Generation funds

and the associated funds that may be raised. And more so at a time when it seems that

monetary policy is going to tighten

due to the geostrategic situation and inflation, and there may be

bottlenecks in the financing of the private sector,

at a time when investments are going to be needed for the digitization and transformation of the economy", explained the CCOO spokesman.

These branch closures and staff reduction have caused

the five largest entities to now concentrate 66.4% of the market share

in the country, also above the evolution of the Eurozone.

The lower number of personnel per number of inhabitants, the lower proximity -because there are fewer branches- and the fall in competition -because there is more concentration- have caused

Spain

to be

the EU country that has reduced its Potential Granting Ratio the most of Credit

(the probabilities of granting loans), only surpassed by Greece and Cyprus.

Conforms to The Trust Project criteria

Know more

  • CCOO

  • Nadia Calvino

  • CaixaBank