Major bank shuts down ATMs and closes branches in South Africa

• Nedbank has indeed shut down ATMs and closed branches in South Africa, reducing its ATM footprint by 345 devices over the past six years.
• The bank's decision to reduce its physical footprint is driven by a shift in customer behavior towards digital platforms and solutions, with digital volumes and values increasing strongly.
• The closure of branches and ATMs is expected to have a minimal impact on Nedbank's financial performance, as the bank's customers continue to adopt digital payment solutions, with 3.5 million digitally active personal and private banking clients.