Banks Close Branches, But Replenish ATMs In Suez Canal Governorates

Banking sources said banks decided to close its branches in the Suez Canal region (Ismailia, Port Said and Suez) today until the political turmoil eases. Riots have been erupted at the second anniversary of 2011’s revolution as well as after a court ruling that sentenced 21 to death for taking part in a riot in Port Said football game massacre. 32 people were killed yesterday in violence that erupted in Port Said, after protesters took to the street angry that people from their city had be blamed for the soccer disaster.

Alex Bank decided to shut down its 9 branches in the Suez Canal region because of the violent clashes taking place in this region between people and security forces, said Sherif Lokman, head of branches of Alex Bank.

The bank also decided to close its branch in El Falaky Street- Downtown so as to keep the customers’ funds safe amid the clashes between protestors and police officers. Accordingly, Alex Bank closed 10 of its 200 branches in Egypt, he noted.

Lokam affirmed that Alex Bank is committed to replenishing ATMs in the Suez Canal governorates. The bank has not decided yet whether to close its branches in this region for another day or not.

In other respect, banking sources warned that closing banks in this vital region where there are Suez Canal Authority and ports which constantly require money transfers and funds will hinder the trade movement.