Thursday, Nov 27, 2014Thursday, Nov 27, 2014
Business
 

Royal Bank of Scotland to shut 44 branches

Published on Apr 3, 2014 7:05 AM
 
A file picture taken on Aug 7, 2009, shows the London headquarters of the Royal Bank of Scotland. -- FILE PHOTO: AFP

(REUTERS) - Part-nationalised Royal Bank of Scotland said on Wednesday it will close 44 branches, of which 14 are classed as "Last Banks in Town", in Britain and Scotland.

An RBS spokesman said there has been a 30 per cent drop in branch transactions since 2010 as banking has changed significantly over the last few years as more and more customers are banking where and when it is convenient for them.

"Many branches classed as 'Last Bank in Town' are only open for a few hours a week and only see one or two customers per hour," the spokesman said.

"We have to adapt to what our customers want, which is why we are investing in a range of other ways our customers can bank with us, including online and telephone banking, our mobile app, and in any one of the Post Office's 11,500 branches across the UK," the spokesman said.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos