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Efma Yearbook A review and analysis of the global retail banking industry November 2014 REPORT

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  • Efma YearbookA review and analysis of the global retail banking industry

    November 2014

    REPORT

  • 2Efma Yearbook 2014

    Contents

    Preface .........................................................................................................................3

    Global growth indices ....................................................................................................4

    Global overview ............................................................................................................7

    Europe ........................................................................................................................19

    Country profile: Poland ........................................................................................22

    Asia Pacific .................................................................................................................24

    Country profile: Thailand .....................................................................................26

    Middle East & Africa ....................................................................................................28

    Country profile: East Africa Kenya, Tanzania, Uganda ..........................................30

    Americas ....................................................................................................................32

    Country profile: Colombia ....................................................................................34

    Listing of banks and branch numbers ..............................................................................36

    Benchmark country groups ............................................................................................68

    Sources .......................................................................................................................69

    About us .....................................................................................................................70

  • 3Efma is pleased to present the Efma Yearbook for 2014. Our Yearbook examines global statistical trends in retail banking and also looks at the trends in each of four regions: Europe, Asia Pacific, Middle East & Africa and the Americas. In Europe we cover all the EU member states, plus Russia, Turkey, Switzerland and Norway. For each of the other regions, we have included statistics on the ten largest economies by GDP.

    The Yearbook contains a ranking of banks which covers a total of 78 countries across the four regions. While there are many more countries in the world, these 78 countries represent 96% of global GDP and 86% of the global population so we have an extremely good coverage of the industry.

    Our unique global indices for key measures of retail banking distribution and products illustrate the continuing divergence in growth between high income and low income markets. The global statistics on mobile banking and payments are not yet sufficient to produce an index but nevertheless the rapid growth trend is clear from the countries and banks which are producing data. The growth in online banking is more of a mixed picture although it may become increasingly difficult to distinguish between mobile and online banking with different types of devices being used at different times by the same consumers.

    In this years study we have also profiled the countries of Poland, Thailand, Colombia, and 3 countries in East Africa Kenya, Tanzania and Uganda where we see lots of interesting developments taking place. Poland has some very innovative banks and has been one of the growth markets in the European Union in the last several years. Thailand and Colombia have some similar characteristics as rapidly developing but still low income countries. In contrast, the East African countries have very low income and generally weak infrastructure but have been the global leaders in mobile money developments.

    We hope you find this study useful and look forward to providing our members with more global insights in future editions.

    Preface

    Patrick Desmares Secretary General Efma

  • 4Efma Yearbook 2014

    Global growth indices

    Efmas global growth indices provide a view of how the industry is developing on four key measures branches, self-service (ATMs), payments and consumer finance. For each of these measures, we have set the index in 2007 at 100, and looked at the growth from 2007 to 2013 for the high income, middle income and low income country groups.

    2007 2008 20112009 2010 2012

    100

    150

    175

    156

    125

    75

    92

    117

    High income

    Middle income

    Low income

    2013

    100

    BranchesThe index for the high income countries continues to decline and is now down to 92. The rate of decline is slightly higher in 2013 than it was in 2012. In the middle income countries, growth has slowed but there is no sign of this happening in the low income countries.

    2007 2008 20112009 2010 2012

    298

    200

    75

    105

    176

    High income

    Middle income

    Low income

    2013

    100

    125

    150

    175

    225

    325

    250

    275

    300

    350

    100

    ATMsThe index for high income countries actually increased very marginally in 2013, mainly due to growth in Canada. In high income countries like the Netherlands and Spain the number of ATMs is declining. Growth in the low income and middle income countries continues to be very high. China is now the largest ATM market, with 520,000 ATMs, which is 4 times the level in 2008.

  • 5For an explanation of how the benchmark country income groups are constructed, see Section 9. The source of data for all of the indices is a combination of the Bank for International Settlements, the IMF and World Bank, central banks and banking associations.

    2007 2008 20112009 2010 2012

    297

    200

    75

    128

    187

    High income

    Middle income

    Low income

    2013

    100

    125

    150

    175

    225

    325

    250

    275

    300

    350

    100

    2007 2008 20112009 2010 2012

    100

    140

    160

    147

    120

    80

    100

    126

    High income

    Middle income

    Low income

    2013

    100

    PaymentsThe volume of non-cash payments is growing in all country income groups. The level in low income countries is 3 times higher than it was in 2007, driven by growth in countries like China and India. After China, the most rapidly growing country has been Russia which is part of the middle income country index.

    Consumer financeTo monitor the consumer finance market, we look at the ratio of household debt to GDP. Indexed to 100 in 2007, this ratio has been essentially flat in the high income countries, but growing in the middle and low income countries. Following a change in the constituents of our index, this is now showing that the growth in middle income countries has been higher than in low income countries.

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural Indicators, International Monetary Fund Financial Access Survey, International Monetary Fund Financial Soundness Indicators, Bank for International Settlements Statistics on Payment Systems and Efma analysis

  • 6Efma Yearbook 2014

  • 7Global overview

    We have organized the study into four main regions Europe, Asia Pacific, Middle East & Africa and the Americas but there is often more commonality between countries in different regions than there is between countries in the same region. Hence we have also created three benchmark groups of countries based on their GDP per capita. These groups allow us to illustrate and compare the characteristics of the high income, middle income and low income countries. The table below highlights some of the measures which differ significantly between countries at different stages of economic development. In the rest of this section, we discuss some of the key global trends in distribution and products.

    Measure

    Units Date

    High income

    countries

    Middle income

    countries

    Low income

    countries

    GDP per capita in PPS Int$ per capita 2013 40,247 20,596 10,206

    Branch density # per m pop 2013 377 192 105Branch growth rate % per annum 2008-13 -2.0 1.4 6.4ATM density # per m pop 2013 1,071 620 305ATM growth rate % per annum 2008-13 0.2 7.5 16.0Non-cash payments per capita # per annum 2013 269 57 27Non-cash payments growth rate % per annum 2008-13 4.2 10.8 23.2Payment cards per capita # per m pop 2013 2.5 1.4 0.5Payment cards growth rate % per annum 2008-13 0.7 7.2 12.7Household debt to GDP % 2013 81 41 36Household debt growth rate % per annum 2008-13 1.8 14.0 14.0

    Key measures by country income group in 2013

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural Indicators, International Monetary Fund Financial Access Survey, International Monetary Fund Financial Soundness Indicators, Bank for International Settlements Statistics on Payment Systems and Efma analysis

  • 8Efma Yearbook 2014

    Mobile

    Growth rates in mobile banking and mobile money continue to be very high across the world, in both high and low income countries. We distinguish between mobile banking and mobile money because the latter tends to be for basic services to unbanked or under-banked consumers in low income economies, and does not provide direct access to a bank account.

    Mobile bankingSouth Korea is one of the most advanced countries for mobile banking. There are now 50 million subscriptions (which is more than the total adult population) and this number has been growing at 45% per annum since 2009 (see Figure 1). The growth rate in Malaysia is also very high, at 54% per annum, although the penetration of the adult population is still below 20%. In Thailand, the penetration is only around 2% of the adult population.

    In the United States, the Federal Reserve carries out an annual survey and in December 2013 they found that 33% of mobile phone users had used mobile banking in the previous 12 months. This is up from 28% in 2012 and 21% in 2011, so the growth rate is not as high as in South Korea or Malaysia. Only 17% of mobile phone users had made a mobile payment in 2013, compared to 15% in 2012 and 11% in 2011. There are big differences by age group however, and the penetration rate in younger adults is higher.

    The greatest impediment to adoption of either mobile banking or mobile payments appears to be consumers limited demand for them: many consumers say their needs are already being met without mobile banking or payments, that they are comfortable with non-mobile options, and that they do not see a clear benefit from using either service. Concerns about the security of mobile banking and mobile payment technologies are also frequently cited as reasons why consumers chose not to adopt these technologies. Consumers again reported less confidence in the security of mobile banking and payments technology in the 2013 survey than they did in either the 2011 or 2012 surveys.Consumers and Mobile Financial Services 2014, Board of Governors of the Federal Reserve System

    In Europe there are limited statistics available on mobile banking but some banks report their own figures and this indicates also that the growth rate is very high. A good example is Danske Bank in Denmark (see Figure 2). Since launching in 2009, Danske Bank has found that 52% of online banking subscribers had signed up for mobile banking by the middle of 2014. The bank also launched a simple mobile payments service in the first half of 2013 and already 60% of mobile banking subscribers have signed up for this and usage is reported to be very high.

    Mobile moneyMobile money services are continuing to grow at a rapid rate. According to the GSMA1, at the end of 2013 there were 219 services in 84 countries (up from 16 services at the end of 2008), with a further 113 in development. As of June 2013 there were 203 million registered accounts but only 60 million active accounts. The number of registered accounts is up around 100% in 12 months. Only 13 of the services have more than 1 million active users, so many remain quite small.

    Sub-Saharan Africa accounts for 52% of all mobile money services and within that, East Africa is a key market (see also Page 30). The number of registered users in Kenya, Tanzania and Uganda now stands at 70 million and the number of transactions per annum is still growing very fast.

    1 Mobile Money for the Unbanked, State of the Industry 2013, GSMA

  • 9Figure 1: Mobile banking penetration in selected countriesMobile banking subscriptions as a percentage of the adult population in 2013

    South Korea Malaysia Thailand

    117%

    17% 2%

    Figure 2: Mobile banking at Danske Bank in DenmarkMobile banking subscribers as a percentage of online banking subscribers

    2010

    9%

    52%46%

    20%

    32%

    2011 2012 2013 Q2 2014

    Sources: Danske Bank and Efma analysis

    Sources: World Bank World Development Indicators, Central banks of South Korea Malaysia, Thailand and Efma analysis

  • 10

    Efma Yearbook 2014

    Online

    Unlike the case of mobile banking, there is no consistent pattern of growth in online banking across the world. Most developed economies have a relatively high use of online banking, with relatively low growth rates. In the middle and low income countries, the available statistics show that growth rates are still quite high.

    The statistics for online banking use in the European Union illustrate the key trends and issues in developed economies. The most advanced in terms of online banking use have over 80% of the adult population regularly using the service for example Denmark, Netherlands and Sweden (see Figure 3). The largest developed economies which are Germany, France and the United Kingdom, each have around 50% of adults regularly using the service.

    However, the surprise continues to be countries like Spain, Italy and Portugal where the penetration rate is very low and has not been growing in the last few years. This is also difficult to understand because we know that some of the leading banks in these countries have been very innovative in their online services.

    Penetration rates in developing EU countries like Romania and Bulgaria also remain quite low and it may be that the development of mobile banking will leapfrog the development of online banking in some of these countries.

    Figure 4 shows the compound annual growth rates from 2009 to 2013 for a selection of middle and low income countries which report online banking subscriptions (although some users may have more than one account so the penetration figure is not directly comparable with the EU figures):

    In Chile, the growth rate has been 23% per annum and the penetration has now reached 40% of the adult population.

    In Malaysia, the growth rate has been 18% per annum and the penetration has already reached 71% of the adult population.

    In Mexico, the growth rate has been 20% per annum and the penetration has now reached 26% of the adult population.

    The fastest growth is in Thailand, at 26% per annum, although the penetration is still only around 15% of the adult population.

    The biggest hurdle to the use of online banking in low income countries continues to be access to the Internet. In India, only 15% of the population use the Internet according to the ITU . In Indonesia the figure is 16%. There are exceptions though, and in China around 45% of the population use the Internet, making online banking potentially a much more significant activity.

  • 11

    Figure 3: Online banking penetration in selected countriesOnline banking users as a percentage of the adult population in 2013

    - DK (Denmark), NL (Netherlands), SE (Sweden)- DE (Germany), FR (France), UK (United Kingdom)- ES (Spain), IT (Italy), PT (Portugal)

    DK/NL/SE DE/FR/UK ES/IT/PT

    82%

    53%

    26%

    Sources: Eurostat and Efma analysis

    Figure 4: Growth in online banking users in selected countriesPercent compound annual growth rate in number of online banking users from 2009 to 2013

    Chile Malaysia Mexico

    23%

    18%

    26%

    20%

    Thailand

    Sources: Central banks of Malaysia and Thailand, Comisin Nacional Bancaria y de Valores (Mexico),Superintendencia de Bancos e Instituciones Financieras (Chile) and Efma analysis

  • 12

    Efma Yearbook 2014

    Branch

    We have already noted that the Global Index of branch numbers is showing a continuing decline in high income countries. The overall picture is clear but there are some differences between countries which reflect their specific circumstances. It is also clear that mobile banking started to take off in the last two years, which is likely to have an increasing impact on branch numbers in developed markets.

    Figure 5 opposite shows the branch density in our sample of high income countries. Figure 6 opposite shows the change in branch numbers over the last two years in the same countries. Some of the observations are:

    The two countries with the highest rate of decline are the Netherlands and Spain. However the situation in these countries is quite different the Netherlands already has a low branch density whereas Spain has one of the highest branch densities in the world. In the Netherlands we can see high levels of online banking use and now a rapid take up of mobile banking. In contrast, Spain has low online banking use, and although there are some innovative Spanish banks in the mobile space, take up of mobile banking is not clear. The key driver for branch declines in Spain has been the financial problems in the banking sector which has led to the merger of many regional banks.

    Australia and Canada are quite similar. They have broadly similar branch densities and they have had little change in branch numbers in the last two years. In fact branch numbers have grown slightly in Australia. The economies of both countries have been slightly stronger than other developed markets in recent years, and their financial sectors survived the banking crisis in better shape. Hence, although technology use is quite high for online and mobile banking there seems little pressure yet for radical branch closures.

    The United Kingdom has a low branch density already and only the Netherlands is lower. The number of branches continues to decline and probably would have been greater if Lloyds Banking Group (the largest retail bank) had not given a commitment to the UK government a few years ago not to close any branches. This commitment is ending and so the pace of branch closures is likely to pick up and mirror what has happened in the Netherlands.

    Germany, France and Italy are the three largest economies in the Eurozone and have each had challenges in their banking sectors during the financial crisis. Starting with high branch densities, there has also been pressure in all these countries to reduce branch numbers but not at the same rate as has been seen in Spain. The crisis is real but not as dramatic. In all three countries, the savings banks and co-operative banks (even those with a certain amount of private capital) still tend to be very significant players and are less likely to pursue the more radical branch closures that have been seen in the Netherlands and the United Kingdom.

    The future is difficult to predict but it seems certain that branch numbers will continue to decline across these high income countries. There is probably a limit to how far it can go in countries like the Netherlands which already now have low branch densities. However, there remains significant scope for further reductions in branch numbers in countries like German, France, Italy and Spain.

  • 13

    Figure 5: Branch density in high income countriesBranches per million population in 2013

    USA

    241

    129

    448

    286

    573

    294

    178

    531

    723

    367

    Austra

    lia

    Netherla

    nds

    German

    y

    Can

    ada

    Fran

    ce

    Japa

    n

    UK

    Italy

    Spain

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural IndicatorsBank for International Settlements Statistics on Payment Systems and Efma analysis

    Figure 6: Change in the number of branches in high income countriesAbsolute change in the number of branches from 2011 to 2013

    USA

    3%

    -18%

    -4%

    0%

    -1%

    0%

    -6% -5%

    -16%

    -2%

    Austra

    lia

    Netherla

    nds

    German

    y

    Can

    ada

    Fran

    ce

    Japa

    n

    UK

    Italy

    Spain

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural IndicatorsBank for International Settlements Statistics on Payment Systems and Efma analysis

  • 14

    Efma Yearbook 2014

    Payments

    We have already noted that non-cash payments volumes are growing in high, middle and low income countries. Singapore has the highest number of non-cash payments per capita per annum, at a level of 698. Following closely behind Singapore are countries like Norway, Finland and Sweden. Malaysia, which is a growing middle income country, has 55 non-cash payments per capita per annum.

    To a large extent this is driven by payment card usage (credit and debit), although there is no longer any meaningful growth in the number of payment cards in high income countries. In high income countries, the number of payment cards has grown at 0.7% per annum since 2008, and at the other extreme, in the low income countries the growth has been 14% per annum.

    Payments are likely to continue to be a growth area in volume and value terms in most countries, but the use of alternative payment systems and regulation of fees will mean that the income for banks will be under pressure.

    As non-cash payments grow, the use of cash in high income countries is generally falling. Figure 7 shows the growth rate in the number of ATM cash withdrawals in a selection of countries. There have been significant declines in the Netherlands, Canada and Australia. In the Netherlands, withdrawals have declined by 13% per annum since 2009. This helps to explain why ATM numbers are now falling in many high income countries (also linked to branch closures). In contrast, there continues to be strong growth in ATM cash withdrawals in middle and low income developing economies like China, India, Brazil and Russia. In India, the number of withdrawals has increased by 82% per annum since 2009.

    The number of point of sale terminals has been growing strongly in middle and low income countries. For example the number of terminals has grown by 42% per annum since 2008 in China and by 19% per annum in India. However, the number of transactions per terminal remains low compared to the high income countries (see Figure 8). For example, there are 1,220 transactions per terminal in China whereas there are 10,832 transactions per terminal in the Netherlands.

    New technologies for turning mobile phones and tablets into payment acceptance devices (such as Square) are likely to make it harder to keep track of the point-of-sale payments infrastructure in future. In countries like Kenya, mobile money services can in any case make the infrastructure redundant consumers can pay businesses for services by simply making a mobile money transfer on their phone.

  • 15

    Figure 7: Growth in ATM cash withdrawals in selected countriesPercent compound annual growth rate from 2009 to 2013

    China NetherlandsIndia Brazil Russia UK Australia Canada

    103%

    82%

    23%

    81%

    -13%

    -1%-8% -12%

    Sources: Bank for International Settlements Statistics on Payment Systems and Efma analysis

    Figure 8: Transactions at point-of-sale terminals in selected countriesNumber of transactions per terminal in 2013

    China NetherlandsIndia Brazil Russia UK Australia Canada

    1,220 1,058 1,441

    2,584

    10,832

    6,568

    5,481

    9,518

    Sources: Bank for International Settlements Statistics on Payment Systems and Efma analysis

  • 16

    Efma Yearbook 2014

    Consumer finance

    Our consumer finance growth index measures the change in the ratio of household debt to GDP. Underlying this of course is the actual change in household debt in nominal terms and it is useful to look at this for a selection of the high income countries (see Figure 9). Taking the total change from the end of 2009 (which was more or less the peak in terms of the index, we can see that the nominal change in household debt has varied considerably between countries.

    Australia and Canada stand out because household debt has actually grown in these two countries by more than 20%. This is a reflection of their strong economies and strong banking systems. In contrast, Spain illustrates the problems faced by consumers in countries which have been severely impacted by the financial crisis. Household debt has actually fallen by 13% from 2009 to 2013. The level of household debt has also fallen in the United States, though only marginally. In other European countries like the Netherlands, Germany, the United Kingdom and Italy there has been some modest growth.

    There are many ways to measure household debt levels. We can look at the ratio of debt to GDP, the ratio of debt to disposable income, the level of interest payments relative to disposable income, or the level of debt relative to total assets. The table opposite illustrates some of these measures for South Africa (a low income country) and Turkey (a middle income country):

    As a low income country with a relatively high growth rate in GDP, you might expect the ratio of debt to GDP to be growing in South Africa. However, after falling in 2010 it has been stable for the last few years. The ratio of debt to disposable income has also fallen. Relatively speaking for a low income country the level of these two measures is also quite high. The ratio of interest payments to disposable income has not fallen and the level of debt to total assets has not fallen. Overall, debt has been growing at around 7% per annum in nominal terms, similar to the level of growth in GDP.

    In Turkey, the ratio of debt to GDP has increased since 2009, and so has the ratio of debt to disposable income. Turkey is still somewhat below the level in South Africa on these measures, and also the level of interest payments to disposable income is slightly lower and stable, at around 5%. There is no measure of debt relative to total assets. The nominal value of debt is growing much faster in Turkey than in South Africa, at 25% per annum.

    As a contrast the ratio of debt to disposable income in two high income countries the UK and Canada is around 150%. This is much higher than the level in South Africa or Turkey. However, the ratio of debt to total assets is between 15% and 20% in the UK and Canada, which is a similar level to that in South Africa.

    The composition of debt is also important. Mortgage debt represents around one half of household debt in South Africa whereas in Turkey it is only around one quarter of household debt. This partly explains the higher level of debt relative to GDP or disposable income in South Africa.

    Another factor that central banks will look at when considering financial stability is the distribution of debt, because it can become concentrated in certain demographic groups or geographic areas.

  • 17

    Figure 9: Change in outstanding household debt in high income countriesAbsolute change in level of debt in local currency terms from 2009 to 2013

    USA GermanyNetherlands Australia Canada UK Spain Italy

    -2%

    3%

    22%23%

    3% 2%

    -13%

    4%

    Sources: European Central Bank Statistical Data Warehouse, International Monetary Fund Financial Soundness Indicators and Efma analysis

    2009 2010 2011 2012 2013

    South Africa

    Debt/GDP 48% 45% 44% 46% 45%

    Debt/Disposable Income 80% 78% 75% 75% 74%Interest Payments/Disposable Income 8% 7% 7% 8% 8%Debt/Total Assets 18% 18% 20% 19% 18%

    Sources: Central Banks of South Africa and Turkey and Efma analysis

    Household debt statistics for South Africa and Turkey

    Turkey

    Debt/GDP 15% 16% 18% 20% 22%

    Debt/Disposable Income 36% 44% 47% 49% 55%Interest Payments/Disposable Income 5% 5% 4% 5% n/aDebt/Total Assets n/a n/a n/a n/a n/a

  • 18

    Efma Yearbook 2014

  • 19

    Europe

    The tables on the following pages show some of the key measures for branches , ATMs, cards and payments, for all the members of the European Union (in alphabetical order), and four other major European countries.

    If you look across a number of growth statistics, the fastest growing markets in Europe over the last five years have been Russia, Turkey and Poland. It is not surprising, therefore, that we see some of the most innovative banks operating in these markets. In contrast, the biggest declining markets have been Greece and Spain, followed by the Baltic states of Estonia, Lithuania and Latvia.

    DistributionIn spite of the continuing financial crisis in Europe, branch density remains very high in Portugal, Spain, Italy and France. While the number of branches has started to decline quite rapidly in Spain, there has been relatively little decline in these other high branch density countries.

    Northern European countries continue to show the lowest branch densities and the highest rates of decline in branches. From 2008 to 2013, the number of branches has declined by 9% per annum in the Netherlands and 11% per annum in Denmark. There are also declines in Finland, Sweden and Norway although at a slightly lower rate.

    The number of ATMs has declined since 2008 in 13 of the European countries analysed. The only meaningful growth has been in Poland, Turkey and Russia. In Finland the number of ATMs has declined by 7% per annum since 2008.

    ProductsOverall growth in the number of payment cards is also now quite low, except for in Russia and Turkey. In these countries, the growth rate per annum since 2008 has been 13% and 9% respectively. Growth in Luxembourg has also been very high although this country is a special case. In many other countries there is no growth or even a decline in the number of payment cards.

    Non-cash payments continue to grow although at modest rates except for in countries like Poland, Czech Republic and Russia. These countries are to some extent still catching up with more developed economies in the use of electronic payments.

    Household debt remains very high as a proportion of GDP in countries like the United Kingdom (91%) and the Netherlands (126%) although the ratio has been falling since the peak in 2009. In the rapidly developing economies of Poland, Russia and Turkey the ratio of household debt to GDP has been growing quite strongly. However, relatively speaking it is still quite low at 36% in Poland, 16% in Russia and 22% in Turkey.

  • 20

    Efma Yearbook 2014

    Country

    Branches

    Branch density

    Branch growth rate

    ATMs

    ATM density

    ATM growth rate

    2013 2013 2008-13 2013 2013 2008-13

    # # per m pop % per annum # 000 # per m pop % per annum

    European Union

    Austria 4,352 514 1 9 1,007 2

    Belgium 3,738 334 -3 15 1,327 -1Bulgaria 3,770 519 -9 6 805 3Croatia 1,222 287 n/a 4 969 n/aCyprus 682 598 -6 1 578 2Czech Republic 2,135 203 1 4 418 5Denmark 1,256 224 -11 3 465 -3Estonia 140 106 -11 1 581 -4Finland 1,300 239 -5 2 412 -7France 37,862 573 -1 59 888 2Germany 36,155 448 -2 83 1,028 1Greece 3,109 282 -5 7 656 -3Hungary 3,246 328 -2 5 488 1Ireland 1,064 232 n/a 3 668 -2Italy 31,759 531 -1 50 836 -1Latvia 343 170 -12 1 586 -1Lithuania 656 222 -8 1 426 -3Luxembourg 213 392 -2 0.5 847 1Malta 110 260 0 0.2 520 5Netherlands 2,165 129 -9 7 439 -3Poland 15,479 402 4 19 491 7Portugal 5,987 572 -1 16 1,543 -1Romania 5,492 275 -6 11 539 3Slovakia 1,256 232 0 3 477 3Slovenia 630 306 -2 2 864 1Spain 33,713 723 -6 52 1,119 -3Sweden 1,974 206 -1 3 338 0United Kingdom 11,381 178 n/a 68 1,060 1

    Other Europe

    Russia 26,491 185 1 189 1,316 20Turkey 11,987 160 5 42 561 14Switzerland 1,807 224 -1 7 844 2Norway 928 183 -3 2 416 -2

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural Indicators and Efma analysis

    Branches and ATMs in Europe

  • 21

    Country

    POS terminal

    density

    POS terminal

    growth rate

    Payment cards

    per capita

    Payment cards

    growth rate

    Non-cashpayments

    per capita

    Non-cash payments

    growth rate

    2013 2008-13 2013 2008-13 2013 2008-13

    # per m pop % per annum # % per annum # per annum % per annum

    European Union

    Austria 14,014 2 1.4 3 294 3

    Belgium 12,170 n/a 1.8 1 241 4Bulgaria 9,738 6 1.1 -1 35 30Croatia 21,685 n/a 2.0 n/a 118 n/aCyprus 18,832 2 1.0 0 81 2Czech Republic 9,098 11 1.0 2 104 36Denmark 25,826 6 1.5 6 338 6Estonia 20,731 3 1.4 -1 256 5Finland 36,033 5 1.4 3 451 6France 20,361 0 1.2 -1 274 3Germany 9,224 5 1.7 2 247 4Greece 25,304 -8 1.3 -2 18 3Hungary 9,174 8 0.9 0 92 2Ireland 33,547 16 1.4 3 167 2Italy 26,478 3 1.2 1 75 3Latvia 12,874 2 1.2 -1 148 6Lithuania 11,718 -3 1.2 -4 115 10Luxembourg 21,373 4 3.7 17 2,605 27Malta n/a n/a 1.9 6 85 5Netherlands 14,829 1 1.8 0 361 5Poland 8,470 9 0.9 3 86 14Portugal 24,521 3 1.9 -1 172 3Romania 6,414 7 0.7 1 19 7Slovakia 7,737 5 0.9 -2 110 11Slovenia 17,273 -1 1.6 -1 153 0Spain 24,118 -5 1.5 -2 127 2Sweden 22,383 2 2.3 2 376 7United Kingdom 25,803 9 2.5 1 308 5

    Other Europe

    Russia 6,646 23 1.5 13 66 22Turkey 30,601 8 2.1 9 n/a n/aSwitzerland 20,614 4 1.9 5 196 5Norway 27,514 4 2.5 3 450 7

    Cards and payments in Europe

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural Indicators and Efma analysis

  • 22

    Efma Yearbook 2014

    Country profile: Poland

    The Polish banking market has been one of the most dynamic in the European Union. The number of branches and ATMs have actually been growing, at 3.7% and 6.9% per annum respectively for the last 5 years (see table). We have categorized Poland as a middle income country because GDP per Capita in PPS is only Int$23,275. However, comparing it to the high income country averages (see Figure 10) we can see where there is still potential for growth:

    Branch density is quite high at 402 per million population and is about the same as the high income country average. It is only slightly below the level in Germany although it is much higher than countries like the Netherlands or Denmark. Note that the number of branches reported by the ECB for Poland includes customer service points and agencies.

    ATM density is only about half the high income country average at a level of 491 per million population.

    The number of non-cash payments has also been growing fast, but the level per capita is low only 86 per capita per annum compared to 247 in Germany or 361 in the Netherlands.

    The number of payment cards per capita at only 0.9 is also low relative to more developed countries like Spain which has 1.5 per capita or the UK which has 2.5 per capita.

    Only 32% of adults are regularly using online banking in Poland which is below the level of more advanced EU countries and hence there appears to be considerable potential for further growth in online banking.

    The largest bank is PKO BP, with 1,172 branches and over 1,000 agencies at the end of 2013. This bank was originally a state-owned savings bank but is now independent. All of the other main commercial banks in Poland are owned by pan-European banking groups. The second largest bank on our ranking of number of branches is Bank Pekao, owned by Unicredit, and the third largest is Bank Zachodni WBK, owned by Santander. The local co-operative banks in Poland are also important. They are organized into two main associations and in total have over 4,000 branches.

    Poland has some smaller, innovative banks, notably Alior Bank and mBank (part of BRE Bank). Alior Bank was founded in 2008 and has since grown to 431 branches (including mini-branches) plus 428 agencies, and 2.1 million customers. The bank had a successful public offering of shares in 2012. mBank is a direct only bank which in 2014 won the Efma/Accenture innovation award for the most disruptive innovation. The bank now has 3.7 million customers in Poland.

  • 23

    Figure 10: Poland Key measures relative to high income country averageBranch density in Poland is 402 per million population compared to the high income country average of 377 per million population, so the relative level in Poland is 107% of the high income country average etc.

    Branch Density ATM Density POS TerminalDensity

    107%

    46% 36%39%

    Payment CardsPer Capita

    Sources: World Bank World Development Indicators, European Central Bank Payment Statistics, European Central Bank Structural Indicators and Efma analysis

    Poland Selected data for 2013 and trends for 2008 to 2013

    Population 39mPopulation density 127 per sq kmGDP per capita in PPS Int$23,275Internet users 63% of populationMobile subscriptions 149% of populationBranch density 402 per m pop.Cards with payment function 0.9 per capita

    2008 2009 2010 2011 2012 2013

    CAGR

    2008-13

    Branches of credit institutions # 12,914 13,292 13,518 14,592 15,170 15,479 3.7%

    ATMs # 000 14 16 17 18 19 19 6.9%

    POS terminals # 000 212 231 252 267 298 326 9.0%

    Cards with payment function # m 30 33 32 32 33 35 2.7%

    Non-cash payments # m 1,714 2,041 2,336 2,675 2,976 3,314 14.1%

    Sources: World Bank World Development Indicators, ITU-D (United Nations) ICT Facts and Figures 2014, European Central Bank Payment Statistics,European Central Bank Structural Indicators and Efma analysis

  • 24

    Efma Yearbook 2014

    Asia Pacific

    The tables opposite show some of the key measures for branches, ATMs, cards and payments for the 10 largest countries by GDP in the Asia Pacific region.

    In terms of population, China and India dominate this region. They are also fast growing and dynamic banking markets. When the number of ATMs grows by 25% per annum in China for five years, this means 350,000 new ATMs have been installed. In comparison, only 150,000 ATMs were added in the whole of Europe in that time.

    DistributionBranch growth rates continue to be relatively high in Indonesia and India where branch density is relatively low. In Indonesia there are only 95 branches per million population and in India there are 103 branches per million population.

    Our source of data for China has changed from the Bank for International Settlements to the IMF Financial Access Survey due to lack of consistency. The IMF data is just for mainland China and includes commercial banks and other deposit takers. We cannot calculate the longer term growth rate but in 2013, the growth was 6% relative to the previous year.

    Malaysia is an interesting case because branch density here is also quite low but branch growth is relatively low as well, even though Malaysia is a middle income country and growing quite fast. Growth rates in the most developed markets of Australia, Japan, Singapore, Taiwan and South Korea remain low.

    ATM growth rates are very high in China, India and Indonesia, and are relatively high in Thailand. Nevertheless there is still plenty of potential for further growth in ATM numbers. Data regarding point-of-sale terminals is more limited in this region, but shows that growth in China and India is also very high.

    ProductsThe number of payment cards is growing in all the countries except Japan where it is flat. The highest growth rates are again in China, India and Indonesia, with India being highest at 19% per annum from 2008 to 2013.

    Non-cash payments per capita are high in the developed economies like Australia and South Korea and very low in the emerging economies like China and India. However, even in the developed economies the number of non-cash payments is still growing at a reasonable rate 8% per annum in Australia and 12% per annum in South Korea.

    In terms of household debt, Malaysia and Thailand are unusual cases. Although they are still developing economies, the ratio of household debt to GDP is very high 87% in Malaysia and 82% in Thailand. The Central Banks have shown concern about these levels and have taken steps to control risks to the financial system. In China, the level of household debt relative to GDP has grown from 18% in 2008 to 31% in 2013. This is a significantly greater proportional increase in that period than in other low income countries.

  • 25

    Sources: World Bank World Development Indicators, International Monetary Fund Financial Access Survey, Bank for International Settlements Statistics on Payment Systems, Central banks of Indonesia, Malaysia, Taiwan, Thailand and Efma analysis

    Branches and ATMs in Asia PacificCountries ranked by GDP in 2013

    Country

    Branches

    Branch density

    Branch growth rate

    ATMs

    ATM density

    ATM growth rate

    2013 2013 2008-13 2013 2013 2008-13

    # # per m pop % per annum # 000 # per m pop % per annum

    China 150,640 111 n/a 520 383 25Japan 37,411 294 0 142 1,115 0India 129,028 103 8 160 128 29Australia 5,582 241 1 30 1,307 2South Korea 14,375 286 1 124 2,474 5Indonesia 23,635 95 10 76 304 28Taiwan 5,927 254 0 27 1,150 1Thailand 9,139 136 5 57 848 10Malaysia 2,511 84 2 12 401 8Singapore 467 86 0 3 485 6

    Figure 11: Growth in cards with a payment function in Asia PacificPercent compound annual growth rate from 2008 to 2013; countries ranked by GDP in 2013

    19.1

    Chi

    na

    Japa

    n

    Indi

    a

    Aus

    tralia

    Sout

    h Ko

    rea

    Indo

    nesia

    Taiw

    an

    Thai

    land

    Mal

    aysia

    Sing

    apor

    e

    Hig

    h In

    com

    e

    Mid

    dle

    Inco

    me

    Low

    Inco

    me

    20.6

    0.5

    2.8 3.2

    13.6

    2.5

    9.27.3

    4.9

    0.7

    7.2

    14.0

    Sources: Bank for International Settlements Statistics on Payment Systems, Central banks of Indonesia, Malaysia, Taiwan, Thailand and Efma analysis

  • 26

    Efma Yearbook 2014

    Country profile: Thailand

    Thailand has a rapidly developing banking market. The number of branches has been growing by nearly 5% per annum in the last 5 years, and the number of ATMs at over 10% per annum. The number of cards with a payment function has also been growing at nearly 10% per annum.

    Although we have categorized Thailand as a low income country because GDP per capita in PPS is below Int$15,000, it is only slightly below this threshold and so is already much further developed than other low income countries like Indonesia. In Figure 12 we therefore compare some key measures for Thailand relative to the middle income country average:

    Branch density in Thailand is quite high compared to other low income countries 136 per million population but only 95 per million population in Indonesia. However it is only 71% of the level of the middle income country average.

    For ATMs on the other hand, the density in Thailand is high, and is already above the level of the middle income country average.

    Non-cash payments per capita (based on 2012 figures) are just 33 in Thailand, which is significantly below the average for middle income countries. The growth rate is, however, very strong.

    The number of cards with a payment function, at 0.9 per capita, is significantly higher than in Indonesia, but is still only just over half the level of the middle income country average.

    Household debt relative to GDP is very high in Thailand the ratio was 82% at the end of 2013 which compares with 87% in Malaysia, but only 20% in Brazil and 22% in Turkey, all of which are middle income countries.

    The Bank of Thailand monitors the number of online banking and mobile banking users in the country. The number of registered users of online banking reached around 15% of the adult population at the end of 2013, still quite low compared to developed economies. However, this is perhaps not surprising when you consider the ITU statistics which show that only 29% of the population uses the Internet. The number of mobile banking agreements was 1.2 million at the end of 2013 and although this number is now growing quite fast the penetration of the 67 million population is still very low.

    The largest of the 15 Thai commercial banks is Siam Commercial Bank, which has 1,173 branches. Only slightly behind this the largest banks in terms of number of branches are Bangkok Bank and Krung Thai Bank. In addition to the commercial banks, there are over 1,200 post office branches taking deposits, a government savings bank with around 900 branches, and the Bank for Agriculture & Agricultural Co-operatives which is a cooperative bank with around 1,000 branches.

  • 27

    Figure 12: Thailand Key measures relative to middle income country averageBranch density in Thailand is 136 per million population compared to the middle income country average of 192 per million population, so the relative level in Thailand is 71% of the middle income country average etc.

    Branch Density ATM Density POS TerminalDensity

    71%

    137%

    63%

    28%

    Payment CardsPer Capita

    Sources: Central bank of Thailand and Efma analysis

    Sources: World Bank World Development Indicators, ITU-D (United Nations) ICT Facts and Figures 2014, Central bank of Thailand and Efma analysis

    Thailand Selected data for 2013 and trends for 2008 to 2013

    Population 67mPopulation density 131 per sq kmGDP per capita in PPS Int$14,390Internet users 29% of populationMobile subscriptions 138% of populationBranch density 136 per m pop.Cards with payment function 0.9 per capita

    2008 2009 2010 2011 2012 2013

    CAGR

    2008-13

    Branches of credit institutions # 7,289 7,659 7,978 8,441 8,835 9,139 4.6%

    ATMs # 000 35 39 44 48 52 57 10.3%

    POS terminals # 000 247 227 258 267 264 311 4.8%

    Cards with payment function # m 39 44 48 53 58 61 9.2%

    Non-cash payments # m 1,372 1,526 1,760 1,951 2,193 2,193 9.8%

  • 28

    Efma Yearbook 2014

    Middle East & Africa

    The table and chart opposite show some of the key measures for branches, ATMs, cards and payments for the ten largest countries by GDP in the Middle East & Africa region (excluding Iran and Iraq).

    The region represents a vast population but there are several small, very high income countries in the Middle East, and many large countries in Africa with very low incomes. Countries like South Africa have a mixed economy, with some aspects which are similar to developed countries and some aspects which are typical of developing countries.

    DistributionOne of the striking things about branch numbers in Middle East & Africa is that the top 10 markets based on GDP total just 25,000 branches, which compares to the top 10 markets in Asia Pacific which total 380,000 branches. The potential for further development is significant but growth rates have not been particularly high, except in Morocco.

    The picture for ATMs is similar. There are just 82,000 ATMs in the top 10 markets, about the same as you will find in Germany. The growth rate in ATMs has been in double digits in several markets Nigeria, Egypt, Algeria, Qatar and UAE.

    Only Saudi Arabia, South Africa, Egypt and Kuwait report point-of-sale terminal figures. The growth rate in Kuwait is relatively high but considering the low density, the growth rate in Saudi Arabia and in South Africa has been quite low. In Egypt there are just 557 terminals per million population compared to 5,809 per million population in South Africa.

    Financial inclusion is a priority for many countries and it may be that some of the markets in the region will develop in a non-traditional way, making greater use of agents and also mobile money services (see profile of East Africa on Page 30).

    ProductsNon-cash payments per capita in the region are also not surprisingly very low. However, in South Africa they are slightly above the middle income country average and almost on the same level as Italy.

    Household debt as a proportion of GDP is low in countries like Saudi Arabia and Egypt, but relatively high in South Africa and Israel. The profile of household debt in South Africa is described in more detail on Page 17.

  • 29

    Sources: World Bank World Development Indicators, International Monetary Fund Financial Access Survey, Bank for International Settlements Statistics on Payment Systems, Central banks of Egypt, Kuwait, Saudi Arabia, UAE and Efma analysis

    Branches and ATMs in Middle East & AfricaCountries ranked by GDP in 2013

    Country

    Branches

    Branch density

    Branch growth rate

    ATMs

    ATM density

    ATM growth rate

    2013 2013 2008-13 2013 2013 2008-13

    # # per m pop % per annum # 000 # per m pop % per annum

    Saudi Arabia 1,768 61 5 14 482 9

    Nigeria 5,636 32 1 13 73 12UAE 928 99 6 5 499 14South Africa 3,697 70 4 27 502 6Israel 1,121 139 2 7 880 9Egypt 3,651 44 2 6 79 13Algeria 1,409 36 2 2 47 12Qatar 217 100 2 1 534 16Kuwait 362 107 4 1 438 8Morocco 5,711 173 13 6 179 10

    Figure 13: Point-of-sale terminals per capita in Middle East & AfricaNumber of terminals per million population in 2013; countries ranked by GDP in 2013

    Saud

    i A

    rabi

    a

    692

    9,821

    5,809

    14,545

    557

    9,406

    21,547

    16,501

    3,6393,739

    Nig

    eria

    Uni

    ted

    Ara

    b Em

    irate

    s

    Sout

    h A

    frica

    Israe

    l

    Egyp

    t

    Kuw

    ait

    Hig

    h In

    com

    e

    Mid

    dle

    Inco

    me

    Low

    Inco

    me

    Sources: World Bank World Development Indicators, Bank for International Settlements Statistics on Payment Systems, Central banks of Egypt, Israel, Kuwait, Nigeria, UAE and Efma analysis

  • 30

    Efma Yearbook 2014

    Country profile: East Africa Kenya, Tanzania, Uganda

    There are different definitions for which countries comprise East Africa or Eastern Africa but the three largest economies, and the most closely linked, are Kenya, Tanzania and Uganda. These countries have a combined population of 131 million. Of the three, Kenya has the highest GDP per Capita but this is only Int$2,265 and all three are very low income countries (see table opposite).

    Figure 14 shows that branch density and ATM density is low in all the countries, even compared to our average for other low income countries. The largest bank in Kenya, which has a population of 44 million, has only 182 branches. While branch and ATM growth rates are relatively high, it will take many years for the levels even to reach the average for our low income group of countries. One of the responses to this situation has been the development of agent networks. In Kenya there are now over 23,000 agents who are authorized to carry out basic banking services.

    Financial inclusion studies (see below) show that the population using formal banking services remains quite low. The figures in 2013 were:

    Kenya 33% Tanzania 14% Uganda 20%

    According to FinScope Uganda: In comparison to 2009, use of formal banking institutions remained the same while the share using only non-bank formal institutions but not formal banking institutions increased from 7 percent in 2009 to 34 percent in 2013. This increase was mainly driven by the surge in use of mobile money services between 2009 and 2013. The use of mobile money services started with M-Pesa in Kenya in 2007. What is remarkable is that the three countries account for 35% of all mobile money registered users on a global basis 70 million out of 200 million. The figures for active users are somewhat lower. For example in Tanzania there are 11 million active users out of 32 million registered users. These active users are carrying out approximately 100 transactions each per annum hence there are now over one billion transactions annually in total in Tanzania.

    The market for these mobile money services is becoming increasingly competitive. In most emerging markets there are just two or three providers. In Kenya and Uganda there are six, and in Tanzania there are four. M-Pesa continues to be dominant in Kenya, but in Uganda, MTN was the first to market and remains market leader.

    Financial Inclusion Data SourcesFinAccess National Survey 2013, FSD Kenya and Central Bank of KenyaFinScope Tanzania 2013, FinScope TanzaniaUganda 2013 FinScope III Survey Report Findings, FinScope Uganda

  • 31

    Measure

    Units Date Kenya Tanzania Uganda

    Low income

    countriesaverage

    Population m 2013 44 49 38 n/a

    GDP US$bn 2013 44 33 21 n/aGDP per capita in PPS Int$ per capita 2013 2,265 1,775 1,410 10,206Branch density # per m pop 2013 32 15 18 105Branch growth rate % per annum 2008-13 8.0 12.2 8.5 6.4ATM density # per annum 2013 56 31 24 305ATM growth rate % per annum 2008-13 13.4 20.9 17.1 16.0Mobile money - registered users

    m 2013 25 32 14 n/a

    Mobile money - registered users growth rate

    % per annum 2009-13 30 66 125 n/a

    Summary of key measures for Kenya, Tanzania and Uganda

    Sources: World Bank World Development Indicators, International Monetary Fund Financial Access Survey, Central banks of Kenya, Uganda, Tanzania and Efma analysis

    Figure 14: Branch and ATM density relative to low income country averageBranches or ATMs per million population in 2013

    Kenya Tanzania Uganda Low IncomeCountries

    3256

    1531

    18 24

    105

    305Branch density

    ATM density

    Sources: World Bank World Development Indicators, International Monetary Fund Financial Access Survey and Efma analysis

  • 32

    Efma Yearbook 2014

    Americas

    The table and chart opposite show some of the key measures for branches, ATMs, cards and payments for the ten largest countries by GDP in the Americas region.

    The United States is the dominant economy in the whole region and the retail banking market there has been low growth or no growth for the last several years. The developing economies in Latin America show a mixed picture with some banking markets growing strongly and others not. Financial inclusion remains a key focus for countries like Peru and Colombia.

    DistributionBranch growth rates are very low in all countries in the region except for Peru which now has a branch density similar to other more developed countries in the region like Chile and Colombia. Networks of agents and correspondents have also been growing very rapidly in Peru such that financial inclusion is improving considerably.

    The situation in Brazil and Mexico is perhaps surprising because the growth rate in the number of branches and the number of ATMs was relatively low in the period from 2008 to 2013. The growth in the number of point-of-sale terminals is slightly higher but considering that terminal density is still very low in Mexico, the growth rate of 9% per annum is not particularly high.

    In both the United States and Canada there has been no growth in the number of branches since 2008. The number of ATMs is not reported in the United States. In Canada, ATM numbers have grown slightly.

    ProductsPayment cards have quite high usage in several Latin American countries. In Brazil there are 2.4 cards per capita, in Argentina there are 1.5 cards per capita, and in Chile there are 1.3 cards per capita. The growth rate in the number of cards is also quite strong in all of these countries.

    Most of the countries do not report non-cash payments per capita, but in Mexico the figure is still very low only 26 payments per capita per annum. This compares to 293 payments per capita per annum in Canada and 372 in the United States.

    Colombia and Brazil report household debt relative to GDP and in both of these countries the trend is for strong growth. In Colombia the ratio is 15%, and in Brazil the ratio is 20%. Nevertheless, the middle income country average for this ratio is 41%, so there remains plenty of potential for growth.

    The United States and Canada have been on diverging paths since 2009 when it comes to household debt. The ratio of household debt to GDP has been falling significantly in the former and is currently 82%, and growing slightly in the latter where it is now 95%.

  • 33

    Sources: World Bank World Development Indicators, International Monetary Fund Financial Access Survey, Bank for International Settlements Statistics on Payment Systems, Superintendencia Financiera de Colombia Financial Inclusion Report, Superintendencia de Banca, Seguros y AFP (Peru) Financial Inclusion Report, SUDEBAN (Venezuela) Banking System Report, Superintendencia de Bancos e Instituciones Financieras de Chile and Efma analysis

    Branches and ATMs in the AmericasCountries ranked by GDP in 2013

    Country

    Branches

    Branch density

    Branch growth rate

    ATMs

    ATM density

    ATM growth rate

    2013 2013 2008-13 2013 2013 2008-13

    # # per m pop % per annum # 000 # per m pop % per annum

    United States 116,012 367 0 n/a n/a n/aBrazil 36,847 184 4 196 978 4Canada 10,070 286 0 65 1,849 2Mexico 12,581 103 4 40 329 5Argentina 4,176 101 1 18 430 13Venezuela 3,649 120 0 9 309 12Colombia 7,002 145 4 14 283 10Chile 2,527 143 3 9 503 5Peru 4,138 136 10 8 270 16Ecuador n/a n/a n/a 4 284 11

    Figure 15: Payment cards per capita in the AmericasDebit and credit cards per capita in 2013, compared to benchmark country income groups

    3.8

    2.4

    3.0

    1.11.5

    0.30.6

    1.3

    2.5

    1.4

    0.9

    USA

    Braz

    il

    Can

    ada

    Mex

    ico

    Arg

    entin

    a

    Vene

    zuel

    a

    Col

    ombi

    a

    Chi

    le

    Hig

    h In

    com

    e

    Mid

    dle

    Inco

    me

    Low

    Inco

    me

    Sources: World Bank World Development Indicators, Bank for International Settlements Statistics on Payment Systems, Central banks of Argentina, Colombia, SUDEBAN (Venezuela) Banking System Report and Efma analysis

  • 34

    Efma Yearbook 2014

    Country profile: Colombia

    Colombia is the fifth largest economy in Latin America, based on GDP and has enjoyed strong economic growth in recent years. The banking sector is expanding the number of branches* has grown by nearly 5% per annum for the last 5 years and the number of ATMs has grown by 10% per annum. In fact, the growth profile is similar to Thailand which we described on Page 26.

    As for many other Latin American countries, financial inclusion has been a key focus. The number of bank branches only tells part of the story. There are now over 40,000 agents/correspondents in the country, up from just 5,000 in 2008. Coverage for basic financial services is therefore relatively good.

    We have categorized Colombia as a low income country although it is close to the top of this group in terms of GDP per capita. In Figure 16, we have compared some key measures against the middle income country average:

    Branch density* is relatively high for a low income country and already at a level of 76% of the middle income country average.

    ATM density, however, remains quite low. There are just 14,000 ATMs in a country with a population of 48 million.

    Point-of-sale terminal density is also quite low although the number of terminals has been growing at 21% per annum for the last five years.

    There are only 0.6 payment cards per capita which is lower than several other similar Latin American countries and much lower than the middle income country average.

    The banking system in Colombia is relatively concentrated and profitable. The largest bank is Bancolombia with 844 branches. There is growing foreign interest in the country, and BBVA owns the fourth largest retail bank. There is a card-based agent network led by large banks, with the support of a public institution, Banca de las Oportunidades, which has been subsidizing the creation of agents in unserved/unbanked areas.

    There are four mobile money services in the country, two of which are operated by major banks. Banco Davivienda launched its innovative DaviPlata mobile money service in 2011 and had 1.9 million users by the end of 2013. Bancolombia launched its service in 2013.

    * Branch numbers include finance companies and cooperative banks, but exclude microcredit companies

  • 35

    Figure 16: Colombia Key measures relative to middle income country averageBranch density in Colombia is 145 per million population compared to the middle income coun-try average of 192 per million population, so the relative level in Colombia is 76% of the middle income country average etc.

    Branch Density ATM Density POS TerminalDensity

    76%

    46% 43%37%

    Payment CardsPer Capita

    Sources: World Bank World Development Indicators, Superintendencia Financiera de Colombia, Financial Inclusion Report, Banco de la Repblica (Colombia) Financial Stability Report and Efma analysis

    Sources: World Bank World Development Indicators, ITU-D (United Nations) ICT Facts and Figures 2014, Superintendencia Financiera de Colombia Financial Inclusion Report, Banco de la Repblica (Colombia) Financial Stability Report and Efma analysis

    Colombia Selected data for 2013 and trends for 2008 to 2013

    2008 2009 2010 2011 2012 2013

    CAGR

    2008-13

    Branches of credit institutions # 5,630 5,773 5,803 6,209 6,641 7,002 4.5%

    ATMs # 000 9 9 11 11 12 14 9.8%

    POS terminals # 000 114 138 157 167 220 299 21.3%

    Cards with payment function # m 21 22 23 25 27 30 7.6%

    Population 48mPopulation density 44 per sq kmGDP per capita in PPS Int$12,371Internet users 52% of populationMobile subscriptions 104% of populationBranch density 145 per m pop.Cards with payment function 0.6 per capita

  • 36

    Efma Yearbook 2014

    Listing of banks and branch numbers

    In this section of the report we have listed the top retail banks in 78 countries, based on their number of domestic branches. This is a unique database of retail banking branches on a global basis.

    The number of banks shown for each country varies depending on data availability and also the level of industry concentration. In some cases we have had to estimate the number of branches. There are also differences in definitions of a branch which we have tried to account for where possible. The main sources are industry associations, central banks, annual reports or company websites. The date at which branch numbers are reported varies quite a lot but where possible we have shown a figure relating to the 2013 year end i.e. 31st December 2013.

    The tables are organized into four regions: Europe, Asia Pacific, Middle East & Africa, and the Americas. Within each region, the countries are shown in alphabetical order. The most countries covered are in Europe where we have listed the banks for all twenty eight members of the European Union, plus Norway, Switzerland, Turkey, Ukraine and Russia.

    In many countries, the post office acts as a distributor of financial services. These services may be provided by a bank which is owned by the post office, or by another bank or banks under a distribution agreement. Our listing does not show the post office network and their role in financial services distribution unless the post office has a significant dedicated branch network for banking. For the European countries we have noted where there is a post office bank e.g. in France the post office bank is La Banque Postale which distributes through over 10,000 post offices, whereas in Germany the post office bank has been sold to Deutsche Bank and operates its own branch network.

  • 37

    Europe

    AustriaBank Branches Date Source

    Raiffeisen 2,199 30/06/2014 Company website

    Erste Bank 972 30/06/2014 Company website

    BAWAG 501 31/12/2013 Annual report

    Bank Austria 290 31/12/2013 Annual report

    Oberbank 150 30/06/2014 Company website

    Note: The local co-operative banks also have around 2,500 branches Raiffeisen is a group of independent local savings banks Erste Bank includes some semi-independent savings banks

    BelgiumBank Branches Date Source

    BNP Paribas Fortis 908 31/12/2013 Annual report

    KBC 827 31/12/2013 Annual report

    Belfius 772 31/12/2013 Annual report

    ING Bank 748 31/12/2013 Financial results

    Argenta 91 31/12/2013 Annual report

    Note: BNP Paribas Fortis, ING Bank and Argenta Spaarbank exclude figures for independent agents Crelan is a significant retail bank but operates only through independent agents Banque de la Poste serves its customers through 680 post offices

    BulgariaBank Branches Date Source

    DSK Bank 378 31/12/2013 Raiffeisen Bank International research

    United Bulgarian Bank 210 31/12/2013 Raiffeisen Bank International research

    UniCredit Bulbank 199 31/12/2013 Raiffeisen Bank International research

    Postbank 190 31/12/2013 Raiffeisen Bank International research

    Raiffeisen Bank 168 31/12/2013 Raiffeisen Bank International research

    First Investment Bank 150 31/12/2013 Annual report

    Societe Generale Expressbank 150 31/12/2013 Raiffeisen Bank International research

    CIBANK 104 31/12/2013 Annual report

    Alpha Bank 86 31/12/2013 Raiffeisen Bank International research

    Piraeus Bank 83 31/12/2013 Financial results

    Note: The local co-operative banks also have around 250 branches

  • 38

    Efma Yearbook 2014

    Czech RepublicBank Branches Date Source

    esk spoitelna 653 31/12/2013 Raiffeisen Bank International research

    Komern banka 398 31/12/2013 Raiffeisen Bank International research

    SOB 319 31/12/2013 Annual report

    GE Money Bank 252 31/12/2013 Annual report

    Raiffeisen Bank 129 31/12/2013 Raiffeisen Bank International research

    UniCredit Bank 111 31/12/2013 Raiffeisen Bank International research

    CyprusBank Branches Date Source

    Bank of Cyprus 134 31/12/2013 Association of Cyprus Banks

    Hellenic Bank 64 31/12/2013 Association of Cyprus Banks

    Alpha Bank Cyprus 29 31/12/2013 Association of Cyprus Banks

    Piraeus Bank 15 31/12/2013 Association of Cyprus Banks

    USB Bank 14 31/12/2013 Association of Cyprus Banks

    National Bank of Greece 13 31/12/2013 Association of Cyprus Banks

    Associations and groups: The local co-operative banks also have around 250 branches

    CroatiaBank Branches Date Source

    Privredna banka Zagreb 203 31/12/2013 Raiffeisen Bank International research

    Erste&Steiermrkische Bank 150 31/12/2013 Raiffeisen Bank International research

    Zagrebaka banka 130 31/12/2013 Raiffeisen Bank International research

    SPLITSKA BANKA 118 31/12/2013 Raiffeisen Bank International research

    OTP banka 102 31/12/2013 Raiffeisen Bank International research

    Raiffeisen Bank Croatia 76 31/12/2013 Raiffeisen Bank International research

    Hypo Alpe Adria Croatia 75 31/12/2013 Annual report

    Hrvatska Potanska Banka 60 31/12/2013 Annual report

    Sberbank 32 31/12/2013 Raiffeisen Bank International research

  • 39

    DenmarkBank Branches Date Source

    Nordea 186 31/12/2013 Annual report

    Danske Bank 159 31/12/2013 Company factbook

    Jyske Bank 113 31/12/2013 Company presentation

    Sydbank 97 31/12/2013 Annual report

    Spar Nord Bank 76 31/12/2013 Annual report

    Arbejdernes Landsbank 69 31/12/2013 Annual report

    Handelsbanken 56 31/12/2013 Annual report

    Nykredit Bank 55 31/12/2013 Company presentation

    Note: The local savings banks in the 3S Group also have around 250 branches. The local co-operative banks also have around 1,400 branches

    EstoniaBank Branches Date Source

    Swedbank 50 31/12/2013 Raiffeisen Bank International research

    SEB Pank 29 31/12/2013 Annual report

    Eesti Krediidipank 16 31/12/2013 Annual report

    Nordea 16 31/12/2013 Annual report

    Danske Bank 13 31/12/2013 Company factbook

    Note: Post Bank serves its customers through around 350 post office branches

    FinlandBank Branches Date Source

    OP-Pohjola 485 31/12/2013 Federation of Finnish Financial Services

    Nordea Bank Finland 378 31/12/2013 Federation of Finnish Financial Services

    POP Bank 111 31/12/2013 Federation of Finnish Financial Services

    S-Bank* 63 31/12/2013 Federation of Finnish Financial Services

    Danske Bank 62 31/12/2013 Federation of Finnish Financial Services

    Aktia Group 58 31/12/2013 Federation of Finnish Financial Services

    Handelsbanken 45 31/12/2013 Federation of Finnish Financial Services

    Bank of Aland 13 31/12/2013 Federation of Finnish Financial Services

    FIM Bank 7 31/12/2013 Federation of Finnish Financial Services

    Note: The local savings banks also have around 200 branches. OP-Pohjola and POP Bank are cooperative banks *S-Bank has 63 Tapiola Bank branches and also distributes through the S-Group retail stores

  • 40

    Efma Yearbook 2014

    FranceBank Branches Date Source

    Credit Agricole 7,018 31/12/2013 Annual report

    Caisse d'Epargne 4,197 31/12/2013 Annual report

    Banque Populaire 3,330 31/12/2013 Annual report

    Societe Generale 3,161 31/12/2013 Annual report

    BNP Paribas 2,140 31/12/2013 Annual report

    Credit Mutuel 2,116 31/12/2013 Annual report

    LCL 2,081 31/12/2013 Annual report

    CIC 2,067 31/12/2013 Annual report

    Credit du Nord 915 31/12/2013 Annual report

    HSBC France 317 31/12/2013 Annual report

    Note: Credit Agricole, Credit Mutuel and Banque Populaires are co-operative banks. Caisse dEpargne is a savings bank. La Banque Postale serves its customers through 10,300 post offices

    GermanyBank Branches Date Source

    Deutsche Bank 1,924 31/12/2013 Annual report

    Commerzbank 1,200 31/12/2013 Annual report

    Deutsche Postbank 1,092 31/12/2013 Annual report

    HypoVereinsbank 933 31/12/2013 Annual report

    Targobank 350 31/12/2013 Annual report

    Santander 253 31/12/2013 Annual report

    Kreissparkasse Koln 245 31/12/2013 Annual report

    Nassauische Sparkasse 237 31/12/2013 Annual report

    Hamburger Sparkasse 200 31/12/2013 Annual report

    Sparkasse KolnBonn 106 30/06/2014 Company website

    Note: The local savings banks also have around 20,000 branches. The local co-operative banks also have around 13,000 branches

  • 41

    GreeceBank Branches Date Source

    Piraeus Bank 957 31/12/2013 Hellenic Bank Association

    Alpha Bank 626 31/12/2013 Hellenic Bank Association

    National Bank of Greece 540 31/12/2013 Hellenic Bank Association

    Eurobank 537 31/12/2013 Hellenic Bank Association

    Bank of Cyprus 158 31/12/2013 Company presentation

    Attica Bank 80 31/12/2013 Hellenic Bank Association

    Note: The local co-operative banks also have around 150 branches

    HungaryBank Branches Date Source

    OTP Bank 382 31/12/2013 Raiffeisen Bank International research

    K&H Bank 219 31/12/2013 Raiffeisen Bank International research

    Erste Bank Hungary 135 31/12/2013 Raiffeisen Bank International research

    Raiffeisen Bank 122 31/12/2013 Raiffeisen Bank International research

    Unicredit Bank 100 31/12/2013 Raiffeisen Bank International research

    Budapest Bank 101 30/06/2014 Company website

    CIB Bank 95 31/12/2013 Raiffeisen Bank International research

    MKB Bank 58 31/12/2013 Financial results

    Note: The local co-operative banks also have around 1,500 branches

  • 42

    Efma Yearbook 2014

    IrelandBank Branches Date Source

    Allied Irish Bank 280 31/12/2013 Financial results

    Bank of Ireland 250 31/12/2013 Annual report

    Ulster Bank 135 30/06/2014 Company website

    permanent tsb 77 30/06/2014 Company website

    The local credit unions also have around 500 branches

    ItalyBank Branches Date Source

    Intesa Sanpaolo 4,766 31/12/2013 Annual report

    Unicredit 4,171 31/12/2013 Financial results

    Banca Monte dei Paschi di Siena 2,334 31/12/2013 Annual report

    Banco Popolare 1,924 31/12/2013 Annual report

    UBI Banca 1,725 30/06/2014 Company website

    Banca Popolare di Milano 696 31/12/2013 Annual report

    Banca Carige 678 31/12/2013 Company presentation

    Banca Popolare di Vicenza 640 31/12/2013 Annual report

    Credito Emiliano 544 31/12/2013 Financial results

    Note: The local savings banks also have around 4,000 branches. The local co-operative banks also have around 13,000 branches. BancoPosta serves its customers through around 14,000 post offices

    LatviaBank Branches Date Source

    Swedbank 54 31/12/2013 Raiffeisen Bank International research

    SEB 46 31/12/2013 Annual report

    Citadele banka 37 31/12/2013 Annual report

    DNB 27 30/06/2014 Company website

    Nordea 13 31/12/2013 Annual report

    Note: The local credit unions also have around 30 branches

  • 43

    LithuaniaBank Branches Date Source

    Lithuania Post 185 31/12/2013 Financial results

    Medicinos bankas 79 31/12/2013 Association of Lithuanian Banks

    Swedbank 77 31/12/2013 Association of Lithuanian Banks

    iauli bankas 77 31/12/2013 Association of Lithuanian Banks

    AB DNB Bankas 70 31/12/2013 Association of Lithuanian Banks

    SEB 46 31/12/2013 Association of Lithuanian Banks

    Danske Bank 12 31/12/2013 Association of Lithuanian Banks

    Nordea Bank 10 31/12/2013 Association of Lithuanian Banks

    Note: The local co-operative banks also have around 120 branches

    LuxembourgBank Branches Date Source

    BCEE 73 30/06/2014 Company website

    Banque Raiffeissen 48 31/12/2013 Annual report

    BIL 40 30/06/2014 Company website

    BGL BNP Paribas 40 31/12/2013 Annual report

    ING Luxembourg 16 31/12/2013 Annual report

    NetherlandsBank Branches Date Source

    Rabobank 722 31/12/2013 Annual report

    ING Bank 643 31/12/2013 Annual report

    ABN Amro 354 31/12/2013 Annual report

    SNS Bank 166 31/12/2013 Annual report

    Friesland Bank 23 30/06/2014 Company website

    MaltaBank Branches Date Source

    Bank of Valletta 45 31/12/2013 Annual report

    HSBC Bank Malta 38 31/12/2013 Annual report

    APS Bank Malta 11 30/06/2014 Company website

  • 44

    Efma Yearbook 2014

    NorwayBank Branches Date Source

    Sparebank1 350 30/06/2014 Company website

    DNB 150 31/12/2013 Annual report

    Nordea 93 31/12/2013 Annual report

    Sparebank Vest 60 31/12/2013 Annual report

    Handelsbanken 49 31/12/2013 Annual report

    Fokus Bank 32 31/12/2013 Company factbook

    Sparebanken Sor 30 31/12/2013 Annual report

    Sparbanken More 30 31/12/2013 Annual report

    Note: The local savings banks also have around 700 branches

    PolandBank Branches Date Source

    PKO BP 1,172 31/12/2013 Financial results

    Bank Pekao 1,002 31/12/2013 Raiffeisen Bank International research

    Bank Zachodni WBK 830 31/12/2013 Raiffeisen Bank International research

    BNP Paribas Polska/BGZ 631 31/12/2013 Annual report

    Credit Agricole Bank Polska 440 30/06/2014 Company website

    Bank Millenium 439 31/12/2013 Annual report

    Alior Bank 431 31/12/2013 Annual report

    Bank BPH 430 31/12/2013 Annual report

    ING Bank Slaski 412 31/12/2013 Financial results

    PolBank 370 31/12/2013 Raiffeisen Bank International research

    Note: The local co-operative banks also have around 4,000 branches. Bank Pocztowy serves its customers through around 5,000 post offices

  • 45

    PortugalBank Branches Date Source

    Millennium bcp 774 31/12/2013 Annual report

    Caixa Geral de Depositos 737 31/12/2013 Annual report

    BPI 696 31/12/2013 Annual report

    Credito Agricola 683 31/12/2013 Annual report

    Novo Banco 643 31/12/2013 Financial results

    Banco Santander Totta 640 31/12/2013 Annual report

    Montepio 456 31/12/2013 Annual report

    Banif 208 31/12/2013 Annual report

    Deutsche Bank 56 31/12/2013 Annual report

    RomaniaBank Branches Date Source

    CEC Bank 1,091 31/12/2013 Company presentation

    BRD 900 31/12/2013 Raiffeisen Bank International research

    Creditcoop 787 30/06/2014 Company website

    BCR 563 31/12/2013 Raiffeisen Bank International research

    Banca Transilvania 550 30/06/2014 Company website

    Raiffeisen Bank 530 31/12/2013 Raiffeisen Bank International research

    ING Bank 200 30/06/2014 Company website

    UniCredit Tiriac Bank 187 31/12/2013 Raiffeisen Bank International research

    Piraeus Bank 158 31/12/2013 Company presentation

    Alpha Bank 149 31/12/2013 Raiffeisen Bank International research

    Note: Branch figures for Romania include agents

  • 46

    Efma Yearbook 2014

    RussiaBank Branches Date Source

    Sberbank 17,882 29/11/2013 RBC

    Russian Agricultural Bank 1,599 29/11/2013 RBC

    VTB 24 1,034 29/11/2013 RBC

    Rosbank 614 29/11/2013 RBC

    Bank Uralsib 442 29/11/2013 RBC

    Alfa Bank 385 29/11/2013 RBC

    Promsvyazbank 322 29/11/2013 RBC

    Bank of Moscow 304 29/11/2013 RBC

    Bank "Financial Corporation Otkritie" 224 29/11/2013 RBC

    ZAO Raiffeisenbank 195 31/12/2013 Raiffeisen Bank International research

    SlovakiaBank Branches Date Source

    Slovenska Sporitelna 292 31/12/2013 Raiffeisen Bank International research

    VUB Banka 239 31/12/2013 Raiffeisen Bank International research

    Tatra Banka 165 31/12/2013 Raiffeisen Bank International research

    SOB 121 31/12/2013 Raiffeisen Bank International research

    Unicredit Bank 73 31/12/2013 Raiffeisen Bank International research

    OTP Banka 68 31/12/2013 Raiffeisen Bank International research

    Prima banka 51 30/06/2014 Company website

    Sberbank 41 31/12/2013 Raiffeisen Bank International research

    Potov Banka 41 30/06/2014 Company website

    SloveniaBank Branches Date Source

    NLB 143 31/12/2013 Annual report

    Deelna banka Slovenije 85 31/12/2013 Annual report

    Nova KBM 68 31/12/2013 Annual report

    SKB 59 31/12/2013 Annual report

    Banka Koper 52 31/12/2013 Annual report

    Abanka Vipa 42 31/12/2013 Annual report

    Gorenjska Banka 29 31/12/2013 Annual report

    UniCredit Banka Slovenija 29 31/12/2013 Annual report

    Hypo Alpe Adria 19 31/12/2013 Annual report

  • 47

    SpainBank Branches Date Source

    La Caixa 5,730 31/12/2013 Company presentation

    Santander 4,067 31/12/2013 Annual report

    BBVA 3,230 31/12/2013 Annual report

    Banco Sabadell 2,418 31/12/2013 Financial results

    Banco Popular 2,045 31/12/2013 Annual report

    Bankia 1,900 31/12/2013 Company presentation

    IBERCAJA BANCO 1,407 31/12/2013 Annual report

    CatalunyaCaixa 1,009 31/12/2013 Annual report

    Unicaja Banco 754 30/06/2014 Company website

    Novagalicia Banco 580 31/12/2013 Annual report

    Note: The local savings banks also have around 20,000 branches. The local co-operative banks also have around 5,000 branches

    SwedenBank Branches Date Source

    Handelsbanken 462 31/12/2013 Swedish Banker's Association

    Swedbank 305 31/12/2013 Swedish Banker's Association

    Nordea 297 31/12/2013 Swedish Banker's Association

    SEB 171 31/12/2013 Swedish Banker's Association

    Lnsfrskringar Bank 130 31/12/2013 Swedish Banker's Association

    Danske Bank 39 31/12/2013 Swedish Banker's Association

    Note: The local savings banks also have around 170 branches

  • 48

    Efma Yearbook 2014

    SwitzerlandBank Branches Date Source

    UBS 300 31/12/2013 Annual report

    Credit Suisse 214 31/12/2013 Annual report

    Zurcher Kantonalbank 97 31/12/2013 Union des Banques Cantonales Suisses

    BEKB / BCBE 91 31/12/2013 Union des Banques Cantonales Suisses

    Valiant Bank 84 31/12/2013 Annual report

    Banque Cantonale Vaudoise 74 31/12/2013 Union des Banques Cantonales Suisses

    Graubundner Kantonalbank 68 31/12/2013 Union des Banques Cantonales Suisses

    Banque Cantonale de Valais 68 31/12/2013 Union des Banques Cantonales Suisses

    Note: The local co-operative banks also have around 1,000 branches PostFinance serves its customers through nearly 2,000 post offices and some dedicated branches

    TurkeyBank Branches Date Source

    Ziraat Bankas 1,521 31/12/2013 Annual report

    Isbank 1,289 31/12/2013 Company presentation

    Garanti Bank 990 31/12/2013 Annual report

    Akbank 985 31/12/2013 Annual report

    Yapi Kredi Bank 949 31/12/2013 Annual report

    Halkbank 786 31/12/2013 Annual report

    VakifBank 774 31/12/2013 Annual report

    DenizBank 688 31/12/2013 Annual report

    Finansbank 616 31/12/2013 Annual report

    TEB 544 31/12/2013 Annual report

    Note: The local savings banks also have around 700 branches

  • 49

    UkraineBank Branches Date Source

    State Savings Bank of Ukraine 5,504 31/12/2013 Annual report

    PrivatBank 3,216 31/12/2013 Annual report

    Raiffeisen Bank Aval 798 31/12/2013 Raiffeisen Bank International research

    UkrSibbank 580 31/12/2013 Annual report

    Ukrsotsbank 402 31/12/2013 Annual report

    Finance & Credit Bank 333 31/12/2013 Financial results

    Pravex-Bank 260 31/12/2013 Raiffeisen Bank International research

    Delta Bank 245 31/12/2013 Annual report

    Sberbank 205 31/12/2013 Annual report

    First Ukrainian International Bank 219 31/12/2013 Annual report

    Note: The local credit unions also have around 600 branches

    United KingdomBank Branches Date Source

    Barclays 1,560 31/12/2013 Annual report

    Natwest 1,392 31/12/2013 Annual report

    Lloyds Bank 1,300 31/12/2013 Annual report

    Santander 1,157 31/12/2013 Annual report

    HSBC 1,155 31/12/2013 Annual report

    Nationwide 775 30/06/2014 Company website

    Halifax 700 31/12/2013 Estimate

    TSB 631 31/12/2013 Annual report

    Royal Bank of Scotland 608 31/12/2013 Annual report

    The Cooperative Bank 294 31/12/2013 Financial results

    Note: Lloyds Banking Group does not report the number of Halifax branches so the figure shown here is an estimate

  • 50

    Efma Yearbook 2014

    AustraliaBank Branches Date Source

    Westpac 1,285 30/06/2014 APRA

    Commonwealth Bank 1,146 30/06/2014 APRA

    ANZ 770 30/06/2014 APRA

    National Australia Bank 751 30/06/2014 APRA

    Bendigo and Adelaide Bank 517 30/06/2014 APRA

    Rural Bank 252 30/06/2014 APRA

    Bank of Queensland 246 30/06/2014 APRA

    Suncorp Bank 190 30/06/2014 APRA

    BangladeshBank Branches Date Source

    Grameen Bank 2,567 31/12/2013 Annual report

    Agrani Bank 875 30/06/2014 Company website

    Islami Bank Bangladesh 286 31/12/2013 Annual report

    First Security Islami Bank 117 31/12/2013 Annual report

    AB Bank 85 30/06/2014 Company website

    Bank Asia 79 30/06/2014 Company website

    Dhaka Bank 74 31/12/2013 Annual report

    Bangladesh Commerce Bank 43 30/06/2014 Company website

    Asia Pacific

  • 51

    ChinaBank Branches Date Source

    Agricultural Bank of China 23,547 31/12/2013 Annual report

    ICBC 17,245 31/12/2013 Annual report

    China Construction Bank 14,650 31/12/2013 Annual report

    Bank of China 10,863 31/12/2013 Annual report

    Bank of Communications Limited 2,691 31/12/2013 Annual report

    China Merchants Bank 1,049 31/12/2013 Company factsheet

    Industrial Bank 924 30/06/2014 Company website

    China Minsheng Banking 852 31/12/2013 Annual report

    China Citic Bank 773 30/06/2014 Company website

    China Everbright Bank 456 30/06/2014 Company website

    IndiaBank Branches Date Source

    State Bank of India 15,869 31/12/2013 Financial results

    Punjab National Bank 6,201 31/12/2013 Annual report

    Bank of Baroda 4,874 31/12/2013 Annual report

    Bank of India 4,646 31/12/2013 Annual report

    Central Bank of India 4,527 31/12/2013 Financial results

    ICICI Bank 3,832 31/03/2014 Annual report

    Union Bank of India 3,752 31/12/2013 Financial results

    Canara Bank 3,728 31/12/2013 Annual report

    HDFC 3,488 30/06/2014 Company website

    Indian Overseas Bank 3,265 31/03/2014 Annual report

  • 52

    Efma Yearbook 2014

    IndonesiaBank Branches Date Source

    Bank Mandiri 2,050 31/12/2013 Annual report

    Bank Negara Indonesia 1,687 31/12/2013 Annual report

    Bank Central Asia 1,062 31/12/2013 Business review

    Bank Rakyat Indonesia 1,051 31/12/2013 Annual report

    Bank Danamon Indonesia 537 31/12/2013 Annual report

    PaninBank 501 30/06/2014 Company website

    Bank Internasional Indonesia 421 31/12/2013 Financial results

    Bank OCBC NISP 339 31/12/2013 Annual report

    Bank Tabungan Negara 334 31/12/2013 Bloomberg

    Bank Permata 312 31/12/2013 Annual report

    JapanBank Branches Date Source

    Mitsubishi UFJ Financial Group 788 31/03/2013 Annual report

    Mizuho Bank 459 01/07/2014 Annual report

    Sumitomo Mitsui Banking Corporation 439 31/12/2013 Company profile

    Resona Bank 338 31/12/2013 Annual report

    The Bank of Yokohama 204 31/08/2013 Annual report

    Shizuoka Bank 197 31/12/2013 Annual report

    Chiba Bank 180 31/03/2014 Financial results

    Nomura 177 31/03/2013 Annual report

    Shoko Chukin Bank 100 31/03/2013 Annual report

  • 53

    MalaysiaBank Branches Date Source

    Maybank 405 31/12/2013 Annual report

    CIMB Bank 310 31/12/2013 Company presentation

    Hong Leong Bank 288 31/12/2013 Annual report

    Public Bank 258 31/12/2013 Company profile

    RHB Bank 196 31/12/2013 Annual report

    Ambank 188 31/12/2013 Annual report

    Bank Kerjasama Rakyat Malaysia 145 31/12/2013 Financial results

    Bank Islam Malaysia 136 30/06/2014 Company profile

    Alliance Bank Malaysia 106 31/12/2013 Annual report

    Affin Bank 103 31/12/2013 Annual report

    PakistanBank Branches Date Source

    Habib Bank 1,547 31/12/2013 Annual report

    National Bank of Pakistan 1,365 31/12/2013 Annual report

    United Bank Limited 1,281 30/06/2014 Company website

    MCB Bank 1,217 31/12/2013 Annual report

    Allied Bank 950 31/12/2013 Annual report

    Bank Alfalah 574 31/12/2013 Annual report

    Bank of Punjab 334 31/12/2013 President's review

    Askari Bank 281 31/12/2013 Annual report

    Al Faysal Investment Bank 269 31/12/2013 Annual report

    Standard Chartered 116 30/06/2014 Company website

    New ZealandBank Branches Date Source

    ANZ Bank New Zealand 300 30/06/2014 Company website

    Kiwibank 280 30/06/2014 Company website

    Westpac New Zealand 200 30/06/2014 Company website

    Bank of New Zealand 178 30/06/2014 Company website

    ASB Bank 142 30/06/2014 Company website

  • 54

    Efma Yearbook 2014

    PhilippinesBank Branches Date Source

    Metropolitan Bank & Trust Co. 856 31/12/2013 Annual report

    Bank of the Philippine Islands 820 31/12/2013 Company Profile

    BDO Unibank 815 31/12/2013 Financial results

    Philippines National Bank 630 31/12/2013 Annual report

    Rizal Commercial Banking Corp. 435 31/12/2013 Annual report

    China Banking Corp. 367 31/12/2013 Annual report

    Land Bank of the Philippines 343 24/03/2014 Company profile