Stanbic Bank Zimbabwe Closing 2 Branches In March

Stanbic Bank Zimbabwe has announced that it will be closing two of its branches, Chitungwiza and Beitbridge effective March 31, 2020, to pave way for a digitisation strategy.

The intended closure was announced by Stanbic Bank chief executive, Mr Joshua Tapambgwa, who told the Chronicle that the digitisation strategy would leave the financial player with a physical footprint of 17 branches across the country. He said:

The model we are following has been adopted by many financial and non-financial institutions in other parts of the world but very few in Southern Africa.

The new banking technologies we are introducing continue to bring ease ofbanking to our customers, which gives us the confidence to move to the next level of banking.

He added that customer accounts which are being maintained at these two branches will be safely migrated to Southerton and Bulawayo Joshua Nkomo Street branches, with the option of visiting any one of their 17 branches should they need service from physical branch facilities.

Tapambgwa also highlighted that all the staff members currently working in these two branches will be redeployed to other departments of the bank, which are driving the digital bank strategy.

More: The Chronicle