There is a movement among major banks to downsize their branches. The aim is to specialize in providing services that are expected to be in demand, and to reduce costs while securing store visitors.
Of these, Sumitomo Mitsui Banking Corporation will convert 250 stores, or 60% of its total stores, to small-sized stores by fiscal 2025.
We specialize in asset management and inheritance consultation for individual customers, which are increasing in number due to the aging of the population and the expansion of NISA.
Because we operate within a commercial facility with a smaller space, we can reduce maintenance costs compared to owning our own store, and by eliminating the need to handle cash at locations other than ATMs, we can also reduce the number of employees working at the store.
Additionally, in February this year, Mizuho Bank opened a small branch near Ikebukuro Station in Tokyo that only handles account opening procedures.
The bank's business hours are from 11 a.m. to 6:30 p.m., making it easy to stop by on the way home from school or work, and the process can be completed in about half the time it used to take, so they hope people will feel free to visit the bank.
Sayuri Yoshida, Director of Mizuho Bank Ikebukuro Account Opening Shop, said, ``The purpose of this time is to open an account, but we also want to be prepared to respond to requests for asset management online or in person.''
As cashless payments and online banking become more popular, and the number of people visiting stores to exchange cash is decreasing, efforts are being made to reduce costs while retaining customers.