Despite the rapid move to digital, Standard Bank plans to expand its physical presence across South Africa.
Standard Bank South Africa announces a significant expansion of its physical footprint across South Africa – with plans to add around 33 branches to its roster.
“Standard Bank is adopting the role of the traditional bank branch, focusing on specialised services that customers require in convenient locations,” it said.Standard Bank noted that it has increased its number of branches from 619 to 652 in 2023 and is set to expand by just over 5% by 2024Since 2020, Standard Bank branches have increased by 100 branches.
Reporting its full-year results for 2023, the group reported earnings growth of 27% and a return on equity of 18.8%.“This strong performance is underpinned by our robust and growing franchise and reflects the positive momentum in all our businesses,” said Sim Tshabalala, Group Chief Executive Officer.
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