Central Bank of India, a state-owned commercial bank, plans to shut 13 per cent of its branches to improve its financial health, which has been under pressure for several years, according to sources and a document seen by Reuters.
The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023.
It is the most drastic step the lender has taken to improve its finances and will be followed by the sale of non-core assets such as real estate, said a government source who did not want to be named.
The closure of the branches has not been reported previously. The more than 100-year-old lender currently has a network of 4,594 branches.
この記事は Business Standard の May 06, 2022 版に掲載されています。
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