Spanish banks step on the accelerator. It is enough to review the Bank of Spain to see how the sector reduced its branches by 42% within a decade and how the use of digital banking services has already exceeded 79% among customers between the ages of 25 and 54 years. The data is resounding, but the internal debate revolves around a more direct question: How much will this digitization really save?
Entities work on two numbers that are not the key unknown, but they help quantify the change. On the one hand, the National Institute of Statistics confirms that labor costs in the financial sector rose by 3.2% in 2024; On the other hand, Eurostat reflects that Spain maintains one of the highest ratios of offices per inhabitant in Europe, with 44 branches per 100,000 adults. Both data put pressure to accelerate the technological leap without brakes.
Annual savings triggered by digitalization in Spanish banking
| factor | He deserves | date | fountain |
|---|---|---|---|
| Estimated annual savings from digitization | 618,000,000 euros | 2025 | Sector estimates + BdE |
The headline figure is already on the table: **about 618 million euros per year**. It is the aggregate calculations that various market analysts – including scenarios published by consulting firms and internal auditors of the Bank of Spain – attribute to the impact of digitalization on network costs, administrative processes and business operations. The range ranges between 540 and 680 million, depending on the strength of the plan implemented by each party.
Where cuts are concentrated: people, channels and energy
Savings do not come from one front, but from several layers. One employee at a large company summed it up this way, between sips of a thermal glass during a break: “Before, we would review the same file three times, and now the algorithm does it in seconds.” This jump explains a large part of the efficiency.
- Labor costs: Digital transformation enables gradual reorganizations that reduce annual employee spending by 8% to 12%. It is not a sudden adjustment, but rather a move towards more analytical positions.
- Office network: With 44 branches per 100,000 adults, Spain still outperforms France (30) and Germany (24). Selective office closures contribute between $180 and $220 million in annual savings.
- Power consumption: According to OMIE, the average MWh price will reach around €92/MWh in 2024, making rationalization of spaces and schedules a relevant means. It is estimated at 35 million in energy efficiency.
What the experts say
A report issued by the European Banking Authority in July 2024 notes that “Spanish banking has an advantage in digitalization compared to other countries, but still maintains large structures.” In parallel, a document from Foncas in September 2024 indicated that “the digital leap could increase profitability on stocks by more than 150 basis points.”
Both views agree that the big change is not just limited to accounting, but it affects the way a customer interacts with their bank. A recent example: an instant transfer that previously required a piece of paper and a stamp, is now solved from your mobile phone while waiting in line at a nearby supermarket.
Is it worth speeding up the process even more?
The question is repeated in boards of directors. The numbers help: for each branch being converted into a “digital hotspot” – hybrid spaces with fewer staff and more self-service – the annual operating cost is reduced by 17%. A ratio that, according to CNMV, will translate into recurring margin improvement from 2026.
The digital push is also reorganizing the employment map. New profiles — data scientists, cybersecurity experts, automation managers — are growing by double digits. For their part, unions warn of the need to “accompany and recycle” workers who are going through a transitional period, after 2024, which was characterized by accelerated training plans.
How does this affect the customer?
- More free operations without moving.
- Less waiting: 62% of actions were already resolved in less than 90 seconds from the app.
- Greater pressure to improve security: Digital fraud rose 14% in 2024, according to Interior.
The challenge now is to strike a balance between technology and human interaction. Complaints about a lack of personal attention increased by 7%, although digital satisfaction also increased. Banks are looking for a compromise that reduces costs without eroding trust, their most sensitive asset.
So, between closing offices, investing in software and coffee machines in early meetings, Spanish banks are facing 2025 with a clear message: savings are no longer an abstract promise. It has numbers, it has impact, and above all, it has a journey.