Central Banking

Finland to close two cash distribution offices


The Bank of Finland on Wednesday said it plans to close two of its cash distribution offices by the end of 2012 in a bid to outsource cash distribution services to the private sector.

The central bank said the closure of the Tampere and Kuopio offices, north of Helsinki, owed to a decline in cash payment transactions in Finland and an increase in retail cash distribution services in the private sector. It said the move will extend the geographical area in which local cash centres can "fairly"

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