Namakgale Standard Bank is one of the bank’s branches that will be closed, according to a full list of branch closures which was announced by Standard Bank on Monday, June 3.

Approximately more than 1 200 jobs at Standard Bank will be impacted as the financial services provider begins a new banking delivery model. According to a statement issued by Standard Bank on March 14, a total of 91 branches were meant to be closed as the bank opts for digital banking offered to the consumers.

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The vast majority of these branches will be closed by June 2019, the statement read.

“These changes will impact approximately 1200 jobs. However the actual number of employees who will ultimately exit the employ of Standard Bank SA could be lower, as new opportunities will become available in the new operating model,” the bank said. Standard Bank said that they would provide a comprehensive exit package for the departing employees.

“We have also set aside funds to assist employees acquire new skills to improve their competitiveness in the labour market, as well as entrepreneurial training and financial assistance,” Standard Bank said.

The bank also mentioned that it was not an easy decision to make. They had started briefing sessions with employees, which will continue across the provinces in coming weeks.