Standard Bank to shut down Musgrave Road and West Street branches
And more branches than expected will close down.
THE Standard Bank branches on Musgrave Road and West Street are among the list of branches the bank announced will be closed.
Standard Bank announced the full list of branch closures on Monday, saying that it would close more branches than expected.
Earlier this year, Standard Bank announced it would close 91 of its branches, but this has since increased to 104 – 17% of all its branches. Gauteng will be worst hit, with 49 branches due to close by as early as this month.
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In a statement released earlier, the bank said: “We know that the way you bank has changed and we’re changing with you.
We’re aligning our retail and business banking services so that you can bank at any time, from anywhere. In the process of making these changes, we will be closing several branches.” Branches in a number of key locations – including Hyde Park, East Rand Mall, the Mbombela branch, Mitchell’s Plain and Hout Bay will be closed.”
Standard Bank initially expected 1,200 of its staff to be affected by the closures, but given the expanded list, more people could lose their jobs.
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