RBS and Lloyds forecast to cut hundreds of branches

Paul_1977

According to the Telegraph, "hundreds" of RBS and Lloyds branches are to go.

http://www.telegraph.co.uk/finance/newsbysector/epic/rbs/12165560/RBS-and-Lloyds-forecast-to-cut-hundreds-of-branches.html

I have to say despite all the banks going digital, my local banks always have someone using the branch, but I am in London. Barclays closed one around here, now the que at the other branch is twice as long.

Not sure how it is in the country or smaller cities.

Anthorn

Not too bad for bank branches here in Peterborough. TSB where I bank is curious though: Closed a branch and opened a new one close by and installed a nice reception area and service desks which appear to be empty of both staff and customers every time I've been in there.

Closing of branches is a sign of the times: If we bank online we can't really complain about it.

pinkdalek

This is just recycled news to be honest.
It's no surprise.

On a recent visit to Edinburgh I could not believe how many Bank Of Scotland branches they had, practically one on each street corner.

Online banking is more popular, however branches seem to be the first port of call for their customers when things go wrong.

Paul_1977

pinkdalek wrote: »

This is just recycled news to be honest.
It's no surprise.

On a recent visit to Edinburgh I could not believe how many Bank Of Scotland branches they had, practically one on each street corner.

Online banking is more popular, however branches seem to be the first port of call for their customers when things go wrong.

RBS has 1,600 branches, down from 2,200 in 2010. Analysts at UBS expect RBS to end up cutting that number by at least another 300 in the coming years, as the pressure to cut costs grows and the usefulness of branches falls.

RBS has seen the number of branch transactions fall by 43pc since 2010, while online and mobile transactions are up 400pc.

If the 40pc predicted fall in RBS numbers from their 2010 level is replicated at Lloyds, that would mean Lloyds also cutting back from 3,000 branches to just 1,800 - more than 200 closures on top of current plans.

Its going to hit a certain generation hard.

PeacefulWaters

pinkdalek wrote: »

This is just recycled news to be honest.
It's no surprise.

On a recent visit to Edinburgh I could not believe how many Bank Of Scotland branches they had, practically one on each street corner.

Online banking is more popular, however branches seem to be the first port of call for their customers when things go wrong.

Branches remain a key way to acquire new customers. Most accounts opened in branches these days are to new customers.

Most accounts opened online are by existing customers of the bank.

Super_Whiskey

I'd imagine a number of branches ear-marked to be closed aren't being used that much any way. I know a popular bank near me has two branches in the town; One on the high street and another up at a university. The University one has shorter opening hours and every time I've been past there's maybe one or two people in there.

dggar

I was under the impression that the William & Glyn branding was to be revived. Would some of these branches become their branches?

callum9999

The duplication of Lloyds and Halifax branches always seemed a bit wasteful to me.

I went to the only Clydesdale Bank branch in the South of England a few weeks ago and it was merged with a Yorkshire Bank branch. It had one waiting area with specific counters for each branch - it would seem wise for the Lloyds group to consider something similar if they're insistent on keeping both brands.

Dan83

I use the branch quite regularly, if the shut my local Halifax, I would swap banks, I've got a Lloyds, natwest, Santander and Barclays all close by.

jonesMUFCforever

Dan83 wrote: »

I use the branch quite regularly, if the shut my local Halifax, I would swap banks, I've got a Lloyds, natwest, Santander and Barclays all close by.

For now....................:cool:

chuckley

GOOD. They need to shut them all down. the staff in them are dreadful. They make the staff in the post office look like cheeters.