Branches With Low Demand Could Face Closure, Relocation - Maybank

KUALA LUMPUR, Aug 26 (Bernama) -- Malayan Banking Bhd (Maybank) will close or relocate branches with low demand as part of its branch optimisation effort, said Group President/Chief Executive Officer, Abdul Farid Alias. He said the branches will be shut down if the demand was lower-than-expected. "We sometimes relocate a branch in a location where multiple branches exist and bring no economic sense," he said this to reporters after announcing the bank's first-half financial results here Thursday. Abdul Farid said this when commenting on talks of Maybank closing down about 27 branches. "However, this does not mean the bank would not open new branches as such a move is part of the bank's branch optimisation effort. "The branch is our physical channel. To us, all channels, whether they are digital (banking) or physical space, such as a branch, are still important and relevant (to us, but) depending on areas," he said. Maybank, which is Malaysia's largest bank by market capitalisation, has close to 400 branches nationwide and 2,500 automated teller machines. --BERNAMA