‘Nearly 80% of banks could close’
By Sarah Wood | 6th April 2023
It feels like bank branches have been closing constantly since 2015, but many more could close in the next two years.
Since 2015, nearly 5,000 bank branches have disappeared from our high streets, now banking insiders say up to 4,000 more branches could shut over the next two years, as reported by This is Money.
There are around 5,500 bank and building society branches nationwide. Shutting 4,000 of them will mean around eight in ten could be closed.
This is Money said Gloucestershire is set to lose another six banks in 2023 - including RBS on Cheltenham Promenade and Lloyds in Cinderford.
While high street banking will still be available in big towns and cities, branches will disappear from small towns, villages and suburbs. Towns like Newent have already been without a bank for several years.
According to consumer group Which?, branches have been shutting at a rate of 54 per month for the past eight years.
Already this year, 213 branches have been put on notice of closure — an average of 71 a month. The latest batch of impending closures will result in 81 Lloyds and Natwest branch closures in the coming months.
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