Scotiabank is still having discussions with employees affected by branch closures on four Family Islands and Paradise Island, the bank’s Managing Director Roger Archer told Guardian Business, though he would not say more about the situation, citing Scotiabank policy.
“We are still in discussions with staff affected by recent branch closures to mitigate against job loss wherever possible,” Archer said.
“As a matter of policy, we would not publicly disclose details in relation to staff matters.”
Archer revealed that Scotiabank has yet to vacate the properties that were recently closed to the public and explained that the bank has yet to finalize its plans for those properties.
The company revealed in October that it planned to close branches on Abaco, Andros, Long Island, Paradise Island and Exuma.
Scotiabank noted that the decision to close the branches was brought about by changes in transaction volumes and customer behavior, which had become even more pronounced since the onset of the COVID-19 pandemic.
The company stated last year that it would attempt to redeploy affected staff “where possible”.
Archer said last year that the changes are necessary for the long-term success of the bank.
The company stated that branch traffic in some of its locations has seen a 50 percent reduction, as customers shift to making digital transactions.
Scotiabank revealed last year in a statement that improvements in digital banking have moved customers away from in-branch banking.
“Scotiabank continues to make significant investments in digital banking to provide customers convenient, robust alternate banking platforms such as Scotia Online and mobile banking, ABMs and TeleScotia,” the statement pointed out.
“These help customers to bank safely and securely, 24/7, significantly reducing the need to visit a branch.”