CIB Bank closing 12 branches in December

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CIB Bank will close 12 of its branches in early December, bringing its total number of branches from 90 down to 83, Hungarian news agency MTI reported yesterday. 

The bank said it would like to focus its resources where they are most required, based on customer demand and profitability. Some units of the bank will be relocated to larger branches, and wherever operation is not profitable, branches will be merged or shut down, the news agency added. Even after the closures, CIB will still have one of the the largest networks of bank branches in Hungary, MTI added.

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