The bank plans to open a total of 78 superstores over the next two years, toreplace some of its 1,400 Royal Bank branches and 99 Royal Trust unitbranches. It's not clear how many will be affected.
However, few jobs are expected to be lost since the superstores will createhundreds of new jobs in telephone banking. The bank hopes to attract moremutual funds investment and estate management and expects to earn $55m in newannual revenue by the year 1999, while saving about $74m from the higher useof electronic services.
Subscribe to the Daily World WireInternational news items on Ad Age's Web site are highlights of ourDaily World Wire, which is a daily report of international marketing newsdistributed via e-mail each weekday afternoon. For subscription information, contact:Christine Yun, tel: (212) 210-0789, fax: (212) 210-0111, e-mail: [email protected].
Copyright October 1996, Crain Communications Inc.