South Africa: Standard Bank SA expands physical presence amidst digital transformation

One of the leading banks in South Africa, Standard Bank South Africa has announced a significant expansion of its physical footprint across South Africa.

Despite the global trend towards digital banking, Standard Bank has increased its number of branches from 619 to 652 in 2023 and is set to further expand by just over 5% by the end of 2024. Since 2020, Standard Bank branches have increased by 100.

This strategic growth comes as a response to the evolving needs of customers, who, while increasingly embracing digital channels for their banking needs, still value the presence of a physical branch. Standard Bank is redefining the role of the traditional bank branch, focusing on specialised services that customers require in convenient locations.

Kabelo Makeke, Standard Bank head for personal and private banking SA states, “While we are increasing our physical presence on the ground, we are reducing our overall square metre footprint. Our branches are now more focused on providing services that our customers may require, at a location where they are.”

As the function of branches evolves, Standard Bank remains at the forefront, adapting to consumer behaviour. “The days when customers had to adapt to the bank are over. Today, we adapt to them, ensuring that whether they choose to interact with us digitally or face-to-face, they receive the same high standard of service,” adds Makeke.

While continuing to heavily invest in digital services, Standard Bank reassures its customers that a physical branch will always be within reach. This balanced approach caters to the diverse preferences of our customer base, ensuring that Standard Bank remains a reliable and convenient banking partner in an increasingly digital world.