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Scarborough Branch of RBS to Close

02 May 2018

RBS revealed that 109 branches would close this summer in the latest round of cuts - all of them now within 0.6 miles of another RBS or NatWest branch, it said.

Lloyds confirmed a further round of branch closures just a week before announcing a surge in United Kingdom profits - attracting criticism from a business group which claimed it could easily afford to give its members better access to their money on the ground.

This comes just weeks after Lloyds Banking Group announced 49 branch closures, taking its total for 2018 to 98.

In Sussex we have four branches that are closing - all of them in West Sussex.

Royal Bank of Scotland has announced it will close 162 branches in England and Wales.

The divestment is now not going ahead and so the Williams & Glyn business, including its branch network, are being reintegrated back into the core bank.

RBS said its business in England and Wales, and its Natwest business in Scotland, were meant to form a new "challenger bank".

According to Zacks, "The Royal Bank of Scotland Group plc is the holding company of one of the world's largest banking and financial services groups, with a market capitalisation of £62.8 billion at the end of 2006". The bank was established in 1792 by famous Rotherham steelmakers, the Walker brothers; along with Vincent Eyre, agent of the Duke of Norfolk (the principal landowner in the area); and William Stanley, a local businessman described as a "gentleman well-known and much respected at Rotherham".

The state-owned bank said the closures were being made to reduce overlap between banks in close proximity.

Since 2014, branch transactions across Royal Bank of Scotland in England and Wales are down 30 per cent.

"As a result we have had to review our overall branch footprint in England and Wales and we've made the hard decision to close a number of Royal Bank of Scotland branches".

At the end of previous year, RBS announced it was closing one-in-four branches, blaming a shift to online banking.

The bank said 792 staff at the 162 branches would be made redundant.

The reasons given for the closures include increased use of mobile banking and fewer people visiting branches.

"With the disruption at TSB, and now this announcement from RBS, there will be plenty of unhappy customers now looking for a new bank".

"The union is clear that the bank is relying on the nearby presence of another branch be that RBS or NatWest (where limited services only will be available), and/or a post office which provides a restricted counter service only".

Scarborough Branch of RBS to Close