[gritzko]

I just had some issues with my Dutch bank because they totally switch to the model of "mobile client + internet + paper letter once a year". They deprecate walk-in procedures. They close branches. I did not visit them for 5 years and I would not visit them for another 5, but something happened, so I had to.

My Russian bank is mobile+internet from day 1. They have no branches. They don't even have their own ATMs.

I am not sure what is the current trend in US, but my personal experience certainly contradicts your thesis.

[scotty79]

My thesis was "if the banks use 1% to pay salaries to their employees doesn't mean it's not a loss"

Maybe you meant the thesis I was responding to that banks use 1% to pay salaries.

[gritzko]

My point is: banks are not driving around trucks full of gold bars (like some other commenter suggested). These days, it is mostly electrons moving. They also minimize the number of people involved. I believe, the remaining people are doing something useful. Like answering my calls and investigating incidents, for example.