ID :
169156
Fri, 03/18/2011 - 09:37
Auther :
Shortlink :
https://oananews.org//node/169156
The shortlink copeid
SC First Bank to shutter 27 local branches
SEOUL, March 18 (Yonhap) -- Standard Chartered First Bank Korea (SC First Bank), the local unit of Britain-based Standard Chartered Group, said Friday it will close 27 branches across South Korea in the first half of this year.
"SC First Bank plans to cut 27 small branches in a bid to boost efficiency and diversify banking channels," said a spokeswoman for the lender, which currently operates 418 branches in the country.
The affected branches have small numbers of customers and no jobs will be cut in the process, SC First Bank said.
The move marks the lender's second major branch reduction since it cut 37 branches in 2007.
SC First Bank, acquired by Standard Chartered Group in 2005, posted a net income of 322 billion won (US$290 million) in 2010, down 110 billion won from the previous year.
mil@yna.co.kr
"SC First Bank plans to cut 27 small branches in a bid to boost efficiency and diversify banking channels," said a spokeswoman for the lender, which currently operates 418 branches in the country.
The affected branches have small numbers of customers and no jobs will be cut in the process, SC First Bank said.
The move marks the lender's second major branch reduction since it cut 37 branches in 2007.
SC First Bank, acquired by Standard Chartered Group in 2005, posted a net income of 322 billion won (US$290 million) in 2010, down 110 billion won from the previous year.
mil@yna.co.kr
