Standard Chartered currently operates only 13 of its branches compared to 25 existing in Nigeria. Over time, it plans to close half of its Nigerian branches as part of a shift to digital banking services.

Standard Chartered plans to close 50% of its branches and cut global office space by a third as it seeks to cut costs by permanently embracing changes in working practices and retail banking that will accelerated during the coronavirus pandemic. The bank is leveraging digital technology to quickly attract new customers and plans to provide loans to process small loans faster and increase the volume of retail credit.