ALSO READExclusive: Report says EU firms face higher banking bills after Brexit Fewer than 10 UK-based banks have asked for EU licence as Brexit looms - sources U.S. investment banks strengthen global lead over Europe Bank lobby warns of market ructions if Brexit talks stumble Foreign banks face new EU set-up to allow more scrutiny
By Emma Rumney
Staff numbers were their lowest since 1997, at around 2.8 million people, according to the analysis.
A total of 48,000 branches have been shut across the bloc since 2008 - a reduction of more than one fifth. But banks hastened closures last year compared with 2015, when 3 percent of branches shut their doors.
Low interest rates depress what banks can charge for loans or earn on investments, eroding profits.
Alternatively banks elsewhere have introduced fees on previously free services, including basic bank accounts and withdrawals, to keep businesses afloat.
Banks also looked to consolidate or merge to increase profitability - a trend that began in 2009. There were 6,596 lenders across the bloc at the end of 2016, down 6 percent on 2015.
(Reporting by Emma Rumney; Editing by John O'Donnell and Greg Mahlich)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)