South Africa's retail banking sector is continuing the trend of downsizing and scaling back its physical presence in the country as clients turn to digital options. An assessment of all banking branches at full-year 2024 shows that the country has seen the net closure of nine branches among the top five 'legacy' banks, with Standard Bank narrowing its footprint the most. Even in cases where branch closures are not as prominent, the banks have also moved to shrink their points of presence, reducing the square meterage of operations where possible. Channel Africa business reporter Innocent Semosa has more.

<p>South Africa's retail banking sector is continuing the trend of downsizing and scaling back its physical presence in the country as clients turn to digital options. An assessment of all banking branches at full-year 2024 shows that the country has seen the net closure of nine branches among the top five 'legacy' banks, with Standard Bank narrowing its footprint the most. Even in cases where branch closures are not as prominent, the banks have also moved to shrink their points of presence, reducing the square meterage of operations where possible. Channel Africa business reporter Innocent Semosa has more.</p>

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

<p>In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.</p>