In the United States, at the beginning of this year a kind of banking crisis broke out due to the closure of institutions throughout the country. The truth is that some banks declared bankruptcy, while large financial companies closed branches throughout the northern nation.
However, there are many companies involved that alleged that the closures were part of their market strategy. It is evident that, according to the territorial area of the country, some cities have been more affected than others by these bank closures.
But it is no secret that, with this situation, North American consumers have fewer and fewer places to carry out their banking transactions.
According to information from S&P Global Market Intelligence, a total of 1,144 national and regional banks closed their doors in 49 North American states. We are talking about the corresponding period between January 1 and July 31.
How have these effects behaved in the states?
The largest number of closures in terms of branches was in the state of California. This is totally understandable if you take into account that its territory is very extensive.
On the other hand, New Jersey appears as the state with the highest loss per capita with a total of 83 banking establishments.
Followed by New Jersey are Washington DC and Connecticut. While Vermont is the only state that has not lost a single bank branch so far, according to S&P Global Market records.
If we talk about institutions, the majority of closures are carried out by PNC Bank, Wells Fargo, Chase and US Bank. In this sense, PNC was the worst bank this year, as it eliminated a total of 201 bank branches in just seven months.
It is important to mention that many large companies reiterate that closures are part of their commercial strategy.
Currently, customers are using digital alternatives more in applications and websites, both from traditional and entirely virtual banks. Therefore, non-branch transactions have increased this year and the migration of consumers to the digital system has caused these closures.
