RBS has announced that it will be closing a further 54 branches across England and Wales, putting more than 250 jobs at risk.
Branches will start closing in January 2019 – and are adding to the 162 closures that were announced earlier this year. The company’s previous announcement preceded the loss of 792 jobs.
Despite the announcement, RBS did confirm that no more branch closures would happen before 2020.
Rhe Royal Bank of Scotland retail banking business in England & Wales has essentially been run as a standalone bank for around eight years and this status as a ‘business-for-sale’ meant that it diverged in a number ways from the customer offerings, products, services, branch automation and online banking capabilities of the core bank.
The vast majority of impacted Royal Bank of Scotland branches in England & Wales are in close proximity to either another Royal Bank of Scotland or NatWest branch.
An RBS spokesperson said: “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.”