Family Bank sacks 150 as rate cap now bites 2083 bankers

[Photo: Courtesy]

Family Bank has laid off 150 employees sending the number of bankers out of work this year to 2083, the worst turnover in recent years.

The lender, which let go about 100 staff across its branches in December last year, through voluntary early retirement, attributed this to depressed economic performance in the first full year under the rate cap regime.