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Sancho Panza

Towns Hit By 348 Bank Branch Closures Last Year.

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Telegraph 18/8/13

'Unpublished official figures, obtained by this newspaper, show the total UK branch network fell to 11,365 by December 2012, from 11,713 a year earlier.

Some 887 communities rely on just one branch, while 444 are serviced by two, according to research by the Campaign for Community Banking.

Rough estimates suggest that RBS/NatWest shut 60 branches in the first half of this year, before pausing for a “review”. Barclays has culled around 30.

Branches are shut because they are expensive to run, accounting for 60pc of high street banks’ costs, according to industry estimates. This includes rental and mortgage repayments, as well as staff salaries and refurbishment. '

I see no reason why this move toward building-less banking won't accelerate.There's no real need for a branch network anymore now that people can do the bulk of their business over the phone.

I know that bank closures can have a disastrous impact on retail footfall.

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