CIMB has shut 22 branches nationwide over the last year , with another 22 expected in the near future , to reduce operational costs and focus on digital banking . Despite a 36 % YoY net profit margin in Q2 , staff around the bank have been laid off and the bank is said to be facing tough times .
CIMB has shut 22 branches nationwide over the last year, with another closure planned in the near future, to reduce operational costs and focus on digital banking. Despite a 36% YoY net profit surge in Q2, staff around the region have been laid off and the bank is said to be facing challenging times.