LONDON (Reuters) - Banks cut 5,500 branches across the European Union last year, 2.5 percent of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008. Last year's cuts come after 7,200 branches were axed in 2011, according to data analyzed by Reuters from European Central Bank statistics. Banks across Europe have been closing branches in a bid to trim operating costs and improve their battered earnings. Consumer take-up of online and telephone banking services has accelerated the trend. ...
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