104 Standard Bank branches to close across South Africa

It comes as a complete shock as Standard Bank announces that they will be closing 104 branches throughout South Africa this month.

Initially the bank said they would be closing 91 branches, but on Tuesday they confirmed to have increased that to 104.

Gauteng will be most affected as almost 50 percent of the branches listed are in that province with key locations being Hyde Park and East Rand Mall.

In Tshwane the list includes Arcadia,, Hillcrest Boulevard, Irene Mall, Lyttelton, Menlyn, Menlyn Maine, Rosslyn, Unisa, Soshanguve Crossing and Wonderboom Junction.

The closures will mean customers will experience inconvenience as they will now need to travel extra distances to reach a branch.

Business Insider reported that in some instances in the Cape a commute to the bank could be a round trip of 260 kilometres.  For those living in Sutherland it will now mean a trip to Laingsburg.

The original amount of people to be affected was 1 200 based on a 91 branch closure.  This figure will increase and despite news that they will be reassigned, it is speculated that some people could lose their jobs.

According to Standard Bank spokesperson Ross Linstrom the change has come about as more customers are making use of online banking and less people are using branches than they did in the past.