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Zürcher Kantonalbank to shutter 7 branches by mid-2020

Zürcher Kantonalbank will close seven branches by the middle of 2020 in response to the changing needs of its clients.

The Swiss lender said that 90% of customers withdraw cash at ATMs and cashless payments are on the rise. At the same time, the number of clients using online or mobile banking services is rapidly growing.

The bank has 69 branches in Switzerland, according to S&P Global Market Intelligence data.