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Banks shut 1,000 branches in two years


UK banks have pulled the shutters down on 1,000 local branches over the last two years, according to a new report by consumer group Which?

HSBC has closed more than a quarter of its network, or 321 branches, since January 2015, the group finds. RBS and Lloyds closed the next most branches with 191 and 180 respectively.

Lloyds is set to further trim its network by 200 branches in 2017 as it speeds up its cost cutting programme.

Even a smaller bank like Co-operative Bank has cut its branch numbers in half with 117 closures in the last two years.

Which? said that rural areas – South West England, Wales and Scotland – were most affected and cutting branches could be leaving the 20 million adults who don’t or can’t use online banking without access to services.

56 per cent of UK adults now bank online, but Which? urged banks to guide customers affected by branch closures.

Which? chief executive Peter Vicary-Smith says: “Banks can and must do a better job of working with their customers to understand their needs and those of the local community, especially when they are making changes to the services they offer or closing branches.”


Lloyds Banking Group

Lloyds axes another 1,300 jobs

More than 1,300 Lloyds Banking Group employees have been told they will lose their jobs in the latest round of cuts at the bank. The 1,340 job losses are part of a three-year restructuring plan first announced in 2014, which set out plans to axe a total of 9,000 jobs, the Financial Times reports. The […]


Nationwide trials in-branch automated advice service

Nationwide is testing its automated advice proposition after entering the FCA’s robo-advice unit. The building society is one of nine firms who were accepted to work with a new team within the regulator focused on developing automated advice earlier this month. Nationwide has described its plans as “guided advice”. Customers will go through an automated process […]


RBS set to cut 32 NatWest branches and 600 roles

RBS is to close 32 NatWest branches with the loss of up to 600 roles. Unite the union says the banking group is shutting offices in the North, Midlands, East and London, with closures to affect other regions in coming weeks. The North will see 18 branches close, up to 217 role losses and 220 […]

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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