UPDATE 1-Dubai’s Mashreq to cut branches as it shifts towards digital banking - CEO:
"Dubai’s Mashreq Bank, the emirate’s third-largest lender by assets, plans to halve the size, not the number, of its branches over the next three years as it shifts its focus towards digital banking services, its CEO told Reuters on Sunday. The downsizing will translate into a reduction of 15 to 20 percent of the bank’s staff in retail services, including employees working at branches and also back office personnel, said Abdul Aziz Al Ghurair, without giving precise numbers. 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, according to its website. It has more than 4,000 employees."
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