(MENAFN) According to Abdul Aziz Al Ghurair, the CEO of UAE's third biggest loan provider, Mashreq bank is shifting to digital banking services, offering more online services and features, cutting down services staff number by 15-20 Percent.
The decrease of oil prices in the last three years, have affected UAE banks, as loan growth has decreased leading to escalation in debts.
Al Ghurair stated: "branches will take a different shape, and they may reduce in size," as a result of the transformation.
Although the staff will be reduced, the bank needs to employ more people for the banking team and the digital marketing.
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