Core Insights - The number of bank branches continues to decline, primarily affecting grassroots outlets, as banks undergo digital transformation [2][3] Group 1: Overall Trends - In 2024, the total number of branches for the six major banks is 76,300, a decrease of 130 from 2023, with grassroots outlets being the main focus of this reduction [2] - The trend of reducing branch numbers has persisted for several years, particularly in the case of the Industrial and Commercial Bank of China (ICBC), which has seen a continuous decline in its branch numbers over the past three years [3] Group 2: Individual Bank Performance - ICBC's total number of branches increased to 16,383, marking its first growth in four years, primarily due to an increase in its subsidiaries, while its operating outlets decreased by 130 [3] - Agricultural Bank of China is the only major state-owned bank that saw an increase in grassroots outlets, with a net addition of 39, bringing its total to 19,064 [4] - China Bank's total number of branches increased by 22, but its mainland branches decreased by 20, primarily due to a reduction in grassroots branches [3][4] Group 3: Branch Optimization Strategies - Banks are focusing on optimizing branch layouts, with Postal Savings Bank relocating 70 branches and ICBC optimizing 527 branches [5] - Agricultural Bank is enhancing its branch layout by relocating to rural areas and key towns, while also maintaining a stable total number of branches [6] - Several banks, including Ping An Bank and CITIC Bank, are adjusting their branch strategies based on business needs, with Ping An Bank reducing community bank numbers significantly [6] Group 4: Service Enhancements - Banks are improving service capabilities through technology, with ICBC focusing on enhancing customer service efficiency and reducing wait times by 20% [7] - Agricultural Bank has established 300 age-friendly service demonstration branches, serving over 101 million customers aged 60 and above [7] - Several banks are also developing green branches, with China Bank and Construction Bank leading initiatives in sustainable branch construction [8]