FNB to shut 34 branches - union

Johannesburg - First National Bank (FNB) will close 34 of its branches, finance union Sasbo said on Friday.

"FNB has informed the union that it intends closing smaller, non-profitable branches in the Northern Cape and Free State," it said in a statement.

The union said it had consulted with FNB to explore alternatives to the possible retrenchment of employees as a result of the closures.

"The union believes that this decision is ill-advised in the light of the latest leading indicators pointing towards a recovery in the broader economy," it said.

Vanessa Hattingh, assistant general secretary of Sasbo, said the union would leave no stone unturned to prevent job losses.

"Unemployment is one of the major problems within the South African economy and contributes to the dampening of the economic recovery," she said.

FNB was not immediately available for comment.

- Sapa