Number of bank branches in Canada 2006-2022
The number of bank branches in Canada decreased steadily between 2014 and 2022. Branch numbers peaked in 2014, when the number of offices reached almost 6,400. After that, the number of offices declined every year, dropping to 5,656 in 2022. With the dropping number of bank branches, branch banking penetration also decreased in recent years. Between 2019 and 2023, the share of bank account holders processing banking matters in person dropped by seven percent.
