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Rbs To Close 44 Branches Across Uk

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http://www.bbc.co.uk/news/business-26865174

Taxpayer-backed Royal Bank of Scotland (RBS) has announced it is closing 44 branches across the UK, 14 of which are classed as the "last banks in town".

That is despite the fact that the bank pledged in 2010 not to close such branches.

A spokeswoman for RBS said "the world had changed since then", and there had been a 30% fall in branch transactions over the last four years.

But campaigners accused the bank of letting down its customers.

RBS said customers in many Scottish communities affected would now be served by a mobile van.

Others will continue to have access to services through the Post Office, or cash machines.

Still at least people will be able to bank on the internet.

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Well this is the free market, I noticed that Hsbc has closed a branch in Portsmouth recently on Albert road. If there is such a demand then the market would let competitors open a physical bricks and mortar branch and it would flourish. Ah I hear silence, thus no bank wants to do it. Perhaps banks should open new branches with Starbux or Costa coffee shops inside.

A few years ago I noticed that these satellite banks had freehold for sale signs outside, and that the business was not affected. This withdrawal has been planned for a while. Perhaps if you bought the freehold on Albert road, you should phone up Costa Coffee....

Edited by 200p

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I saw this one too, but decided to post the FCA thread instead. 44 branches doesn't sound like a lot, and frankly the business needs to shrink.

I think it needs to shrink its balance sheet though which is far larger than UK's!

However that would result in the 'talent' loosing their jobs.

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Well this is the free market, I noticed that Hsbc has closed a branch in Portsmouth recently on Albert road. If there is such a demand then the market would let competitors open a physical bricks and mortar branch and it would flourish. Ah I hear silence, thus no bank wants to do it. Perhaps banks should open new branches with Starbux or Costa coffee shops inside.

A few years ago I noticed that these satellite banks had freehold for sale signs outside, and that the business was not affected. This withdrawal has been planned for a while. Perhaps if you bought the freehold on Albert road, you should phone up Costa Coffee....

Competitors? Me no understand. What is this word?

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