Royal Bank of Scotland (RBS) is making a big change, closing down about one in every five of its branches across the country. This decision puts over 100 jobs at risk, affecting 105 employees who work in 18 of their 86 branches. The closures are expected to happen by September.
Royal Bank of Scotland, which is owned by NatWest, is blaming the shift to online banking for this move. They say that 80% of their active current account holders now use online services, and over 97% of retail accounts are opened online too. Because of this, they feel they don’t need as many physical branches.
However, not everyone is happy about this decision. Critics call it “inexplicable” and worry about its impact on local communities. They say that elderly and vulnerable customers may struggle with digital banking and rely on these local branches.
The closure of branches of the Royal Bank of Scotland in Aberdeen and New Deer is particularly concerning for these communities. People in Aberdeen are worried about losing services in the city center, and those in New Deer face longer trips to other branches in Peterhead or Inverurie.
The union representing bank workers, Unite, called the announcement a “massive blow” to both the workforce and the communities they serve. RBS says they’ll try to make redundancies voluntary and provide support for those who lose their jobs.
Despite these closures, Royal Bank of Scotland promises not to close any more branches until at least 2026. They’re also investing in new branches and improving their digital services. Additionally, RBS is investing around £10.5 million in its network across Scotland and continuing to invest in “shared solutions” like the Post Office and banking hubs.
Read More
