Brazilian banks reduce physical branches amid rising digital usage

Major Brazilian banks are significantly reducing their physical presence as digital banking adoption rises. Bradesco reported a recurring net profit of R$ 13.861 billion for the first half of 2026, a 16.2% increase compared to the previous year. Despite this growth, the bank closed 324 branches and reduced its workforce by 2,448 employees between June 2025 and June 2026, citing that 98% of operations are now conducted through digital channels.

In the state of Rio de Janeiro, the impact of these closures is widespread. Between December 2019 and June 2026, the state lost 854 branches, a 47% reduction. The city of Rio de Janeiro alone saw a 52% decrease, leaving 29 neighborhoods without any physical bank branches. This shift has affected approximately 703,000 people, including 150,000 elderly citizens who rely more heavily on in-person services.

Data indicates that Bradesco reduced its physical presence in Rio de Janeiro by 70%, while Itaú and Santander reduced theirs by approximately 60%. Nationally, the banking sector saw more than 38,000 jobs lost between 2019 and 2025.