Local Standard Bank branches have closed down
Locally, the KwaThema and Daveyton branches have already closed.
Thousands of Standard Bank bankers reacted with shock on Monday when the bank released a list of 104 of its 630 branches which will be closing down by the end of June countrywide, with Gauteng hit the hardest.
Initially, in March the bank had indicated they will only be closing the doors of 91 branches, but the number has since increased to 104 with Gauteng been affected the most, with 49 branches due to close by as early as this month.
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This announcement would not only affect the bank users, but also more than 1 200 employees who will be laid off, especially with 50 per cent of those affected in Gauteng.
Locally, the KwaThema and Daveyton branches have already closed.
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In the bank’s statement they explained: “Standard Bank is realigning its retail and business banking delivery model to the changing needs of customers amid rapid adoption of digital banking products and services.”
