ROYAL Bank of Scotland (RBS) has announced plans to close another 54 branches, leaving a further 258 workers without a job.
It’s the second round of closures to be announced by the bank this year, bringing the total up to 162 branches across England and Wales.
The lender – which is still 62.4 per cent owned by the taxpayer – said that the latest closures are linked to its decision not to sell its Williams & Glyn side of the business.
As a result, the firm will close branches that are near to a NatWest – its sister brand – to reduce overlap.
The branches will close in January next year but RBS customers will be able to use NatWest and Post Offices branches to manage their every day banking.
In a statement, an RBS spokesperson said: “We realise this is difficult news for our colleagues and we are doing everything we can to support those affected.
“We will ensure compulsory redundancies are kept to an absolute minimum.”
Which RBS branches will be closing in January 2019?
THE latest round of closures will affect RBS branches that are close to a NatWest branch. These are the branches that are closing:
- London, Kensington High Street
- Enfield
- Watford
- Kingston Upon Thames
- London, Notting Hill Gate
- Eastbourne
- Wolverhampton
- Swansea
- Belper
- Cardiff Roath
- Prestatyn
- Basildon
- Ipswich
- Bournemouth
- Congleton
- Swallownest
- Matlock
- Ashbourne
- Darlington
- Chapel-en-le-Frith
- Pemberton
- Leigh
- Manchester Droylsden
- Bamber Bridge
- Dronfield
- Hindley
- Radcliffe
- Buxton High Street
- Bolton Harwood
- Poulton-le-Fylde
- Altrincham
- Formby
- Sheffield Ecclesfield
- Romiley
- Shaw
- South Elmsall
- Fleetwood
- Atherton
- Marple
- Hazel Grove
- Prescot
- Standish
- Partington
- Burscough Bridge
- Kirkham
- Ramsbottom
- Hathersage
- Parbold
- Adlington
- Maghull
- Croston
- Disley
- Prestbury
- Blackpool Talbot Square
You can find the full list of closures that have been announced this year here.
The decision has already been slammed by unions which said that the closures will impact the disabled and elderly the most.
Rob MacGregor, of union Unite, said: “The disabled, elderly and many local businesses will today be deeply disappointed that their bank has chosen to withdraw from their community and no longer provide them with the access to banking services which we all deserve.”
Mike Cherry, chairman of the Federation of Small Businesses branded the move as “extremely disappointing” as customers struggling with online banking need “somewhere to turn to”.
He said: “We’ve already lost more than 2,000 branches since 2015 and are set to lose another two branches a day throughout 2018.”
The firm already closed 109 branches in late July and August this year, with another 53 branches set to close in November.
The cuts follow the closure of 259 branches announced in December last year, which resulted in 680 job losses.
RBS also pointed out that since 2014, branch transactions across England and Wales are down 30 per cent, while there has been a 53 per cent increase in the number of customers using mobile banking, while mobile transactions have increased by 74 per cent.
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“We will now focus on investing in our Royal Bank network in England and Wales to make sure customers have a consistent range of products and services wherever they bank, be it Scotland, England or Wales,” the lender’s spokesman added.
Last year, RBS announced plans to close 197 branches of NatWest.
In April, Lloyds announced that it would be closing down another 49 of its branches across the country last year, putting 325 staff members out of work.
As customers move towards online banking, around 300 cash machines are being closed down every month, consumer group Which? has warned.
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