Millions of Russians could lose access to bank branches as closures loom

No online service will be able to fully replace face-to-face consultations with specialists, meaning bank branches will continue to operate in Russia. However, as many as half of them could close in the near future, while employees will have to learn a different profession, HR expert Zulia Loikova told NSN.

She confirmed that the trend toward online banking continues, as most banking operations can be transferred to the digital space. However, not all applications are sufficiently effective, so it is unlikely that all bank branches will disappear within the next five years, the expert believes.

“They may be reduced by half, but they will remain. Offline services will still be needed and available, as there are confidential matters that require personal presence,” Loikova said. “Residents of remote areas and elderly people do not trust digital channels and value face-to-face communication.”

The expert believes the most likely scenario is a hybrid model in which routine operations are moved online, while in-person employees handle more complex transactions.

At the same time, she said bank employees working in branches will have to acquire new professions. However, this trend is not limited to the banking sector. According to Loikova, Russians should generally abandon the idea that a single profession can provide financial security throughout their entire working lives. In the future, she said, people will change professions every five to six years.

Russia’s Central Bank data show that banks closed 483 branches in the first quarter of 2026, reducing the total number of bank branches in the country to 21,870. The number of branches fell by 185 in the first three months of 2025, compared with 70 in 2024 and 41 in 2023. The decline is attributed, among other factors, to the optimisation of physical infrastructure amid rising costs.

By Jeyhun Aghazada