Singapore bank branch closures lead customers to rivals: Bain
The Republic had second lowest branch density among 21 countries in 2015
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Singapore
SINGAPORE had the second lowest number of commercial bank branches per 100,000 adults among 21 countries last year, fewer than Malaysia's and above only China's rate, management consultancy Bain said in a report on Friday that looked at customer loyalty in retail banking.
It also found that Singapore banks have been fairly aggressive relative to other countries' in closing branches, and more than half of Singapore bank customers who experienced a branch closure subsequently switched to other banks or started using products or services at competing banks.
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