StanChart to cut half its branches worldwide
Move targets cost savings as lender permanently adopts pandemic working changes amid strong quarterly growth
29 April 2021 - 18:09
London Standard Chartered PLC is to reduce its global branch network by half to about 400 to cut long-term costs after the British bank reported a stronger than expected first-quarter profit.
The Asia, Africa and Middle East-focused lender, which had as many as 1,200 branches worldwide in 2014, said on Thursday it will shrink the network to a third of that total as it also gives up office space worldwide...
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