| April 2
April 2 Part-nationalised Royal Bank of Scotland
said on Wednesday it will close 44 branches, of which 14
are classed as "Last Banks in Town", in the UK and Scotland.
An RBS spokesperson said there has been a 30 percent drop in
branch transactions since 2010 as banking has changed
significantly over the last few years as more and more customers
are banking where and when it is convenient for them.
"Many branches classed as 'Last Bank in Town' are only open
for a few hours a week and only see one or two customers per
hour," the spokesperson said.
"We have to adapt to what our customers want, which is why
we are investing in a range of other ways our customers can bank
with us, including online and telephone banking, our mobile app,
and in any one of the Post Office's 11,500 branches across the
UK," the spokesperson said.
RBS in February said it planned to cut costs by 5.3 billion
pounds, or 40 percent, over the next three to four years, with
3.1 billion of that coming from the sale of businesses such as
its U.S. retail franchise Citizens and the rest from cutting
The bank's new chief executive, Ross McEwan, is looking to
simplify the bank further by cutting its divisions from seven to
three, reducing investment banking and shrinking its hundreds of
The Edinburgh-headquartered bank has around 2,000 branches
in total, of which 314 would become branches of Williams & Glyn,
which is due to formally split from RBS in 2015.
(Reporting by Aashika Jain in Bangalore; Editing by Leslie