To get that, you have a lease, buildout, OpEx, and salaries/benefits/overhead for 5+ FTEs.
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Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
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Is that in the US, in Japan, or somehow valid on both?
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US. Haven't looked up numbers for Japan.
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This is materially untrue at the scale of the US branch networks, due to extreme geographic concentration of the whales.
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Fascinating. How did you end up getting this number?
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A Chase investor presentation which let me back out the number ("Investments in digital reduced net attrition by 100K accounts equivalent to the production of 211 branches") and a Bankography issue. Don't have either link in my clipboard at the moment.
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But you are not taking into consideration branding and marketing that comes with a physical branch. Despite a big shift to mobile banking, seeing physical branches and ATMs creates an aura of reliability.
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There is a branch in my uni (30% international student) that is really busy at the start of academic year & mostly empty throughout the rest.
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that is way less than i thought
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was thinking of this because of Schwab book talking about importance and EoS of their retail footprint But this seems...so small
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