Forecast: Number of Commercial Bank Branches in Norway

Based on the provided forecast data, the number of commercial bank branches per hundred thousand adults in Norway is projected to decrease from 2024 through 2028. In 2023, this figure stood at a certain baseline value. From 2024 to 2025, the number of branches is expected to decline by 16.04%. From 2025 to 2026, the decline is estimated to be around 19.11%. Between 2026 and 2027, the rate of decline is projected at 22.53%, and from 2027 to 2028, it is expected to fall by 29.08%. The compounded annual growth rate (CAGR) over these five years reflects a consistent decrease, signaling a clear long-term trend of branch closures or consolidations.

Future trends to watch for:

• Expanding digital banking services as brick-and-mortar branches decrease.
• Changes in consumer behavior towards digital banking adoption.
• Impact on employment and local economies due to branch closures.
• Innovation in financial technology shaping the banking landscape.