Business summary from April 26 to May 2 Banking This week alone, Standard Chartered said it would shut down half its branches and slash office space worldwide by a third in order to save costs as global lockdowns have greatly reduced the need for physical branches and offices. Across the Causeway, OCBC Bank said this week that it would review its current need for office space and could be reducing the number of its branches as well. In Malaysia, this trend is set to take place soon if it has not already, according to banks as well as industry observers. Bank Negara Malaysia has appointed Abd. Rahman Abu Bakar as assistant governor effective May 1.