CIMB closing 60 branches but there’ll be no lay-offs

KUALA LUMPUR: CIMB Bank Bhd will proceed with plans to close about 60 branches as part of its rationalisation plan but it will not involve any retrenchment, said chief executive Datuk Seri Nazir Razak.

The bank was embarking on its third branch rationalisation plan, which was consistent with what it had planned since merging with Southern Bank in 2006, he said.