ROYAL BANK OF SCOTLAND is closing 158 branches, putting 472 jobs at risk.
The bank will be closing both RBS and Natwest branches in various locations across the UK. Most of the closures will be Natwest branches.
The taxpayer-backed bank blamed the closure on a shift in the way people do their banking, with more and more customers opting to hop online or use a mobile app than pop into a bricks-and-mortar branch.
The bank said that, while simple banking transactions carried out in RBS and Natwest branches had fallen by 43 per cent since 2010, online and mobile banking transactions had shot up by 400 per cent.
“As customers change the way they bank with us, we must change the way we serve them,” an RBS spokesperson said. “The role of the branch is fast moving to a centre for advice, away from basic transactions. While the branch will still be a core part of our offering to customers, inevitably some branches will have to close.”
The majority of the branches will be closing in September or October.
