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Banks to cut down on branches, office space


Lenders streamlining their strategies amid challenging business environment
BANKS worldwide are closing down branches and slashing their usage of office space like never before in a sure sign that the coronavirus pandemic has brought about permanent changes to the financial world.
While changes are not confined to this industry, lenders have largely been quicker than most to adapt to the changes.
This week alone, Standard Chartered said it would shut down half its branches and slash office space worldwide by a third in order to save costs as global lockdowns have greatly reduced the need for physical branches and offices. ....

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EDGE WEEKLY: What's next after RM2.8 bil settlement?

EDGE WEEKLY: What's next after RM2.8 bil settlement?
theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.

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AMMB considered impact of RM2.83bil payment to govt


(AmBank) had considered the impact of the RM2.83bil payment it has to make to the government “very seriously” and says it will “redouble” its efforts to ensure it returns to profitability within its targeted timeframe.
Group CEO Datuk Sulaiman Mohd Tahir said the banking group had taken into consideration the consequences of the global settlement on all stakeholders, including the man-on-the-street and that “any kind of protracted delay on this settlement would certainly impact business.”
“This matter is now behind us, ” he said, adding that the focus was now to bounce back in the financial year ending March 31,2022 (FY22) and beyond. ....

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