RBS to close 259 branches and cut 680 jobs
Written by Anthony Strzalek
Taxpayer-backed RBS has announced that it will close 259 bank branches as well as cut 680 jobs as more of its customers turn to online banking.
The closures equate to one in four RBS branches and will leave the bank with just 744 across the UK. 62 Royal Bank of Scotland branches will close in addition to 197 NatWest branches.
An RBS spokesperson said: “More and more of our customers are choosing to do their everyday banking online or on mobile.
“Since 2014 the number of customers using our branches across the UK has fallen by 40 per cent and mobile transactions have increased by 73 per cent over the same period. Over 5 million customers now use our mobile banking app and one in five only bank with us digitally.
“We realise this is difficult news for our colleagues and we are doing everything we can to support those affected.”
However, the union Unite reacted angrily to the move claiming RBS was “decimating the bank branch network” and “betraying local communities”.
Rob MacGregor, Unite national officer, said: “This announcement will forever change the face of banking in this country resulting in over a thousand staff losing their jobs and hundreds of high streets without any banking facilities.
“The closure of another 259 branches is savage and represents a betrayal of loyal staff and customers who have supported the bank for decades.”