Effectiveness of shared bank branches, ATMs called into question
Commercial banks have been adopting joint retail branches and shared ATM booths to balance in-person and digital services, but the strategy’s effectiveness remains uncertain because banks’ operational practices vary, industry officials said Friday. Data compiled by the Financial Supervisory Service showed that the four largest commercial banks — KB Kookmin, Shinhan, Hana and Woori — reduced their combined branch network by 26 percent, from 3,625 in 2019 to 2,688 in June. Their ATMs also fell, from 33,707 in 2020 to 25,987 in July. These reductions, driven by the rise of non-face-to-face transactions and ongoing cost-cutting, have increasingly excluded customers with limited digital skills, such as some older adults, from banking services. In response, the banks have partnered to open joint branches and shared ATMs to cut costs while maintaining access to in-person banking services. These branches were intended to increase convenience by allowing customers to complete most transactions in one place, with multiple banks sharing a single location to provide services such as deposits
Nov 1, 2025By Yi Whan-woo
