Central Bank of India issues statement: No decision as of now to shut any branch in FY 2022-23

Central Bank of India issues statement: No decision as of now to shut any branch in FY 2022-23

This clarification comes on the back of a news report citing sources that said, the state-owned commercial bank plans to shut 13 percent of its branches

FPJ Web DeskUpdated: Saturday, May 07, 2022, 07:51 PM IST
article-image
Central Bank of India has released a statement that there is no decision as of now to close a large number of branches during FY 2022-23. / Representational image |

Central Bank of India has released a statement that there is no decision as of now to close a large number of branches during FY 2022-23.

'However, it is a routine exercise for every Bank to re-align/shift/merge/close/open branches on regular basis to achieve corporate business objectives. We assure our esteemed customers and all other stakeholders that their interest is well-protected."

This clarification comes on the back of a news report citing sources that said, The Central Bank of India — a state-owned commercial bank — plans to shut 13 percent of its branches to improve its financial health, which has been under pressure for several years. The bank is looking to reduce the number of branches by 600 by either shutting down or merging loss-making branches by the end of March 2023.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...