Customers of banking group Absa should experience little disruption as a result of its decision to cease to trade as Trust Bank, Volkskas Bank, United Bank and Allied Bank after November this year.
The group announced this week it would trade only as Absa Bank in the future, and would be reducing some staff, combining some branches and re-looking at its products and services.
Nallie Bosman, group managing director, says Absa plans to tailor its products around the needs of specific target groups. It believes the needs for products and services of its wealthiest customers are not the same as the needs of its poorest customers.
There are about 246 areas where there is an overlap between different Absa divisions, and some of those branches will be merged, upgraded or closed. In some areas, new outlets will be opened. About 2 000 jobs will be eliminated, mainly through natural attrition.
If you have any queries or complaints about the restructuring you can phone a toll free number - 0800 41 41 41 - 24 hours a day, seven days a week. Other queries and complaints should be directed to Absa's Action Line, at 0800 123 456.