Business Technology

Mashreq Bank to close 12 branches as it shifts online

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The bank also recently announced that it will invest AED 500 million over the next five years towards digital innovation and transformation, expanding the bank’s overarching digitisation strategy.

Thursday 04, April 2019 BY KUDAKWASHE MUZORIWA

Mashreq Bank Executive Vice President and the Head of Retail Banking Group said that the lender will close 12 of its branches by June as it shifts some of its business online.

Subroto Som, Mashreq Bank’s Executive Vice President and Head of Retail Banking Group, said that the bank has 39 branches, by the middle of the year the lender will close 12 and currently Mashreq has two new smart branches.

In March, the bank's Chief Executive said the lender will close 50 per cent of its branches this year, reported Reuters.

TAGS : Mashreq Bank, Digital drive, Next generation branches, Digital Banking

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