Financial Services: Retail Banking During COVID-19

Paul Koenigsdorf • 3/22/2021
2021 Financial Services Retail Banking Spotlight

Even before COVID-19 disrupted the global economy, retail banking was experiencing substantial changes brought on by the evolving relationships between financial services firms and customers. The rise of online banking and mobile banking options have altered the real estate requirements for retail bank locations. This includes digital disruptions and developing retail real estate portfolios.  

The current pandemic and related economic recession are affecting all commercial property types. Immediate changes in retail bank branch activity is evident across the largest financial services institutions. Leasing activity dropped and two-thirds of retail bank renewals in Q4 2020 had lower year one rates than the final year of the previous lease. But there is good news, now financial services institutions have the opportunities for cost savings in their real estate portfolios. 

To learn more, read the full C&W's Retail Banking During COVID-19 report.

Find more out about the financial services advisory group.  

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