Britain's NatWest closes another 43 branches as banks cut costs
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NATWEST said on Thursday (Oct 13) that it is closing a further 43 branches, as lenders reduce their presence on Britain’s high streets to cut costs and to adapt to more customers taking up online banking.
“As with many industries, most of our customers are shifting to mobile and online banking, because it’s faster and easier for people to manage their financial lives,” a NatWest spokesperson said, adding that the bank was investing in alternative services.
The branches will close between January and March next year.
The closures are the latest in a series of such moves by NatWest, which said it February that it would close 32 branches.
The move also comes just two days after Britain’s Financial Conduct Authority said it was toughening up guidance on branch closures, saying lenders had to make sure an alternative was in place beforehand. REUTERS
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