UK bank closure to hit 400 in 2022

Friday 22 April 2022 12:13 CET | News

UK-based bank branches have closed over the past few months, stripping the elderly and vulnerable of access to cash.

Another 120 branches were announced in April 2022 and almost 5,000 have gone over the last seven years. This is a rate of 54 branches a month, according to the consumer group Which?.

In March 2022, Lloyds Banking said another 60 would go. It followed HSBC’s warning that it would shutter 69 branches between July and October 2022. In 2021 it axed 82.

NatWest Group has closed 1,114 branches since 2015, including its Royal Bank of Scotland and Ulster Bank arms. Barclays has reduced its network by some 841.

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Keywords: banks, financial institutions, financial services, digitalisation, study
Categories: Banking & Fintech
Countries: United Kingdom
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Banking & Fintech

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