Banking News

Clydesdale to close more branches

Clydesdale to close more branches

(19 January 2017 – United Kingdom) National Australia Bank off-shoot, Clydesdale Bank has said that it will be closing 79 branches across the UK, which may see up to 400 jobs in the bank disappear.

The number of closures account for around a third of its branch network. That includes 40 Clydesdale branches and 39 from subsidiary Yorkshire Bank, resulting in about 200 staff from each being “at risk of redundancy”.

The new closures are in addition to just under 30 branch operations ceasing in 2016. According to the bank’s annual report, it has 248 retail branches, plus 40 business banking centres.

“All employees affected by these changes will be fully supported through the process,” said Clydesdale.

The bank said the decision is in direct response to customers’ shift toward digital services. “Since 2011, the number of customers using their bank for day-to-day transactions across the banking industry in the UK has fallen by a third,” Clydesdale said.

“This ongoing decline in branch usage, married to a sharp and sustained increase in digital and mobile engagement, has driven a shift to providing greater access to day-to-day banking services remotely, on the move and outside of normal business hours.”

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