Business & Finance

Ecobank Shuts 74 Branches, Shifts To Digital Channels

Ecobank Nigeria has closed operations in 74 of its branches in an exercise it described as a merger of its branches.
The bank, however, stated that it will redeploy affected staffers to other projects.
The subsidiary of Ecobank group reaffirmed its committment to digital transformation, which would enable customers carry out banking activities online, thereby reducing the need to carry out banking transactions in physical locations.

Ecobank Nigeria

Ecobank Managing-Director, Charles Kie, said in a statement that the bank hopes to shift its activities to digital channels and in the process improve customers’ experience at reduced cost.

He pointed out that this move also supports the bank’s financial inclusion strategy and the cashless policy of the Central Bank of Nigeria, CBN.

“After a detailed analysis of the physical network of branches needed to serve our customers, the decision was made by the Ecobank Nigeria board, and approved by the Central Bank of Nigeria, to optimise 74 out of its 479 branches.

“We are deploying staff and other resources from the merged branches to other ongoing projects, while also strengthening the existing branches to make them more resourceful and up to speed in their daily activities,” the MD said.

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