Zuercher Kantonalbank is closing agencies and branches as it adjusts to changing habits of its customers. The affected employees will be offered new jobs.
Zuercher Kantonalbank (ZKB), one of Switzerland's largest retail banks, is reducing its physical presence. The bank, which mainly operates in the financial powerhouse of Switzerland, the region around the cities of Zurich and Winterthur, will shutter eight branches and six partner agencies, it said in a statement today.
The bank won't close any branch offering relationship management services, ZKB also said. All employees affected by the closures will be offered new jobs.
Decline in Demand
ZKB is reducing the number of outlets because of a decline in demand from customers for services offered at their high-street branch and due to the digitization in banking. The bank, owned by the regional government of Zurich, promised to retain the densest network of banking outlets in the canton of Zurich.
