Lagos - As part of a strategic business decision, some commercial banks have started the process of consolidating their retail and commercial banking businesses by closing down unprofitable branches across the country.
Some of the banks had in the last one year shut four or more branches each, reports New Telegraph.
The move is seen as a way to boost profits at a time of sluggish revenue and loan growth.
The closures are likely to accelerate as more customers embrace speedy online banking over traditional face-to-face contact.
Read more New Telegraph.
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