Brazil has experienced a significant decline in the number of bank branches, with a 37% reduction over the last ten years, bringing the total to just over 14,000. This trend is largely attributed to technological advancements that enable consumers to conduct transactions remotely, alongside banks' strategies to cut costs. As a result, many areas, particularly smaller municipalities, have been left without access to banking services.

Since 2015, 638 municipalities have seen their last branch close, which has resulted in 6.9 million people becoming unbanked, according to calculations from the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese) using data from the Central Bank of Brazil. Currently, 2,649 municipalities lack a bank branch, amounting to 48% of total municipalities, a significant increase from 36% a decade ago. This change represents a growing population impact, now affecting 9% of Brazilians—or approximately 19.7 million people—up from just 3.4% ten years ago.

The acceleration of branch closures has been particularly notable since the onset of the COVID-19 pandemic and the introduction of fast payment system Pix. Nearly 6,000 traditional branches have shuttered during this period. In contrast, banks have increasingly shifted towards remote services, employing managers digitally and establishing concept branches that offer specialized services such as investment consultancy, which may not cater to the unbanked populations in rural areas and smaller towns.