Bank shuts down Mandeni branch

STANDARD Bank has announced that it is closing ten branches in KZN, with one of those affected located in Mandeni.
This comes almost three months after the bank announced that it would close a number of branches in the country in order to realign its business model to the changing needs of customers.
The bank on Monday published a full list of the 104 branches that would be affected in all provinces.
‘This list relates to all branches closed in 2018 and 2019 and was published for customer convenience and information. Most of the branches impacted were closed in 2018,’ Standard Bank said.
Standard Bank said the decision to shut some of the regional operations was owing to a shift in customer behaviour which meant customers were using branches less.
‘As part of the implementation of the new banking delivery model, some of the roles currently being performed in our branches will change. These changes will impact approximately 1 200 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.
The financial institution said it had also set aside funds to assist employees to acquire new skills to improve their competitiveness in the labour market, as well as entrepreneurial training and financial assistance.
The South African Federation of Trade Unions (SAFTU) however, rejected the decision to cut jobs saying, ‘the fact that Standard Bank sees the digitising of their branches to be in line with the 4th Industrial Revolution is communicating a message to workers that Industrial Revolution is a threat not a programme to up-skill and empower workers’.