(MENAFN) Emirates third largest lender by assets, Mashreq Bank plans to shrink the number of its branches in the following three years in order to switch to digital banking services, according to the CEO of Dubai's Mashreq Bank.
Abdul Aziz Al Ghurair said that the Bank will start downsizing by reducing the bank's staff in retail services by 15 to 20 percent, in which the process will include employees working at branches as well as back office staff.
He said, "There will be a shift towards digital marketing and digital selling, how do you access your customers, that's going to be interesting and dramatically different than what we have seen in the past".
With more than 4,000 employees according to its website, Mashreq has 44 branches in the United Arab Emirates and a retail presence in other countries in the region including Egypt, Qatar, Kuwait and Bahrain.
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