The number of commercial bank branches in Chile has been experiencing a continuous decline since 2013. From 17.02 establishments per hundred thousand adults in 2013, the value steadily decreased to 9.37 in 2023. This decrease is characterized by an annual average rate (CAGR) of -7.68% over the last five years. The years 2022 and 2023 witnessed significant year-on-year drops of 7.81% and 8.76%, respectively.
Forecasts indicate a continued downward trend, with projections showing a decrease to 5.59 establishments per hundred thousand adults by 2028. The five-year forecast CAGR stands at -8.1%, leading to an overall forecasted growth rate of -34.47% over this period.
Future trends to watch for include the impact of digital banking adoption, regulatory changes, and economic factors influencing the demand for physical banking infrastructure. The rapid shift towards online banking services suggests that this decline in physical branches may persist or even accelerate.
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