Friday, 29 March, 2024, 3:09 PM
Advance Search
Home

Credit Suisse turns towards digital banking in Switzerland

Published : Thursday, 27 August, 2020 at 12:00 AM  Count : 246

ZURICH, Aug 26: Credit Suisse, Switzerland's second-biggest bank, said Tuesday it would reorientate its domestic services towards digital banking, with a quarter of its Swiss branches to close and hundreds of jobs at risk.
"In the last two years alone, use of online banking at Credit Suisse has grown by approximately 40 per cent, while the use of mobile banking has more than doubled," the bank said in a statement.
"The COVID-19 crisis has further accelerated these trends. In contrast, the number of visits to branches has been declining for years.
"Credit Suisse will introduce a new digital offering and a future-oriented branch concept at the end of October."
The bank also plans to merge the activities of regional subsidiary Neue Aargauer Bank with those under the Credit Suisse brand to avoid duplication.
With its realignment, the bank intends to reduce annual costs by around 100 million Swiss francs ($110 million, 93 million euros) from 2022 onwards.
Meanwhile up to 500 jobs could be axed, Andre Helfenstein, head of the bank's operations within Switzerland, told reporters during a conference call.    -AFP











Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: info©dailyobserverbd.com, news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com
  [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft