May 04 2013
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HSBC Bank Oman shuts down 4 branches to 'optimize locations'
Following its formation in June 2012, the bank's senior management carried out a comprehensive branch review resulting in the segmentation of the network into three categories - flagship, mid-market and community.
"The review was designed to ensure all branches are strategically placed to serve our customers and look for synergies between branches to optimise locations. As a result, we have decided to close down four branches [Ruwi, Qurm, Sohar and Thumrait Air Base] as they were all in close proximity to other HSBC Bank Oman branches," said Simon Cooper, chairman of HSBC Bank Oman , in the board of directors report submitted to the Muscat Securities Market (MSM).
In an e-mail reply to Muscat Daily queries, Alan Jarman, head of retail banking and wealth management at HSBC Bank Oman , said that following the successful merger of OIB with HSBC Middle East's Oman operations in June 2012, and after careful assessment of the combined branch network, HSBC Bank Oman decided to merge the operations of four branches with effect from February 28, 2013.
"The restructuring of the branch network forms part of the bank's commitment to serve its customers with the highest quality of service through its extensive branch network across the sultanate," he added.
Jarman said that the bank, which currently operates more than 130 ATMs, including more than 80 multifunction machines in high footfall locations, has identified five new locations where it will install ATMs during the second quarter of 2013.
© Muscat Daily 2013
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