RBS to close 162 branches and cut hundreds of jobs across the UK

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RBS says it is to cut 792 jobs following a evaluation of its division group in England and Wales, Reuters has reported.

The data comes days after the Royal Monetary establishment of Scotland reported a 206 per cent rise in income to £792m inside the first quarter of the 12 months.

The lender said the selection was made because of it is not launching Williams & Glyn as a challenger monetary establishment, and resulting from this truth now has two division networks working in shut proximity to 1 one other; NatWest and Royal Monetary establishment of Scotland, in England & Wales. The Williams & Glyn enterprise shall be reintegrated once more into RBS.

The group said the RBS retail banking enterprise in England and Wales had “primarily been run as a standalone monetary establishment for spherical eight years” and added that this meant it “diverged in a amount strategies from the shopper offering, merchandise, corporations, division automation and on-line banking capabilities of the core monetary establishment”.

“Due to this we have wanted to evaluation our whole division footprint in England and Wales and we’ve made the troublesome willpower to close various Royal Monetary establishment of Scotland branches,” said an RBS spokesperson.

“Prospects of Royal Monetary establishment of Scotland in England & Wales may have the flexibility to make use of NatWest branches in its place for his or her frequently banking needs.

“We anticipate these division closures to result in spherical 792 roles being made redundant. We realise that’s troublesome data for our colleagues and we’re doing each factor we’ll to assist these affected. We’re going to assure compulsory redundancies are saved to an absolute minimal.”  

No modifications are deliberate for the NatWest retail banking enterprise in Scotland.

The monetary establishment added that one of the best ways shoppers monetary establishment “has modified radically over the last few years”.

In step with RBS, since 2014, division transactions all through Royal Monetary establishment of Scotland in England & Wales are down 30 per cent whereas there was a 53 per cent enhance inside the number of shoppers using cell banking, with cell transactions rising by 74 per cent.

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