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NAB to close 20 per cent of its branch network

National Australia Bank is controversially closing over 20 per cent of its UK branch network, with victims being announced tomorrow.

The owner of the Clydesdale and Yorkshire banks will announce the closures tomorrow, which will see over 50 communities losing their only banking outlet.

This is the biggest branch cull of its kind since Barclays axed 10 per cent of its sites in 2000 losing up to 100 of its 449 branches.

The closures are expected to have the biggest impact on communities in Scotland and the North East.

NAB managing director and chief executive John Stewart will make the announcement on branches when it announces its half-year results, claiming the branches to be non-profitable.

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