PETALING JAYA: CIMB Bank and CIMB Islamic have closed 21 branches in the country under its branch rationalisation exercise, reducing the number to 362. CIMB Bank said last Saturday the closure of the branches was the second phase of CIMB Bank’s plans to optimise its distribution network after acquiring Southern Bank Bhd in March 2006. CIMB Bank head of consumer sales and distribution Sulaiman Mohd Tahir said the group was “right-sizing our branch network” by merging, closing or relocating branches located near each other or within the same area. “In addition to promoting efficiency and reducing costs, this move frees us to set up branches in under-served areas and better meet our customer needs,” he said. Read more
(The Edge 18-2-2008)
