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RBS to cut 258 jobs as more branches close

RBS-Building-2012-700x450.jpgThe Royal Bank of Scotland is closing  a further 54 branches in England and Wales, cutting some 258 jobs in the process.

This cuts are the third round of branch closures for RBS in less than a year.

The previous round was announced in May, which saw 162 branches shut and 792 jobs lost, following on from last December, where there were 259 closures and 680 redundancies.

The latest round of branch closures follows the bank’s review of its branch network due to changes in the RBS group’s business model. 

RBS was due to merge, re-brand and launched its retail operations across England, Scotland and Wales as a new bank, Williams & Glyn.

RBS working on plans for standalone digital bank

This plan was since abolished, however, and branches intended for Williams & Glyn are being reintegrated back into the core bank.

The bank does not expect any further closures until 2020.

An RBS spokesperson says: “As we are no longer launching Williams & Glyn as a challenger bank we now have two branch networks operating in close proximity to each other in England and Wales: NatWest and Royal Bank of Scotland.

“As a result we have reviewed our overall branch footprint in England and Wales and have made the difficult decision to close 54 Royal Bank of Scotland branches.

“Customers of Royal Bank of Scotland in England and Wales will be able to use NatWest branches and local post offices for their everyday banking needs.

“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 change in the company’s business strategy stems from shifts that have occurred in the industry as more people adopt mobile banking.

RBS notes that since 2014, branch transactions across RBS in England and Wales are down 30 per cent.

The number of customers using mobile banking, on the other hand, increased by 53 per cent and mobile transactions increased by 74 per cent.

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