Access Bank has made announcements revealing that it would be cutting down its operating hours following the increasing cost of diesel and low power supply in the country. The bank revealed this in a notification it sent to its customers entitled: ‘Adjusted Closing Time for Select Branches’.
Access Bank had informed its esteemed customers of the list of the branches and the states where they operate. The bank had further urged its customers to consider processing most of their transactions through its digital channels.
“You can simply process most of your transactions via our digital channels, as a few of our Access Bank branches nationwide will be closed at 3 pm from the 29th of August, 2022,” Access Bank stated.
According to the bank, some of its branches would be operating between 8 am and 4 pm, while its electronic channels would be open to customers 24 hours every day.
Access Bank has not yet disclosed the reason(s) behind the adjustment of its operating hours; however, this latest move might not be unconnected to the bank’s move to reduce its operating costs.
The bank’s Q2 2022 result has not yet been revealed but a look at its unaudited Q1 result disclosed that the bank’s operating expenses increased by 23.63 % to N77.26 billion from N62.49 billion.
Meanwhile, Access bank is not the only commercial bank making such a move. Most banks had started cutting their operating hours short due to the high cost of operation in the country, caused by the soaring price of diesel which is at present, costing more than N800 per liter. Examples of such banks are GTCO and FirstBank who had taken similar active measures earlier in the year as a response to the energy crisis in the country.
