RBC to shutter Concession St. branch May 26
Declining foot traffic and the increased use of electronic banking are behind the decision by the Royal Bank of Canada to close the Concession Street branch on May 26.
“We recognize that the May 26 closing of our Concession and Summit branch may be challenging for some of our clients, and we apologize for any inconvenience,” said Saira Husain, regional communications manager for RBC.
“Over the years, as consumer banking habits have evolved, foot traffic in branches has decreased while the use of mobile and online banking have increased. In response, we have been broadening how we serve our clients to be a blend of branches, digital services and mobile expert advisers.”
Husain said RBC will maintain an automated teller machine near the Concession Street area and that customers can also use the branch at Upper James and Mohawk.
The bank building, which is also home to the constituency offices of Hamilton Mountain MP Scott Duvall and Hamilton Mountain MPP Monique Taylor, is also up for sale.
The branch’s departure leaves the street without a bank. Toronto Dominion and the CIBC left in previous years.
Husain said the Royal Bank has had a branch on Concession Street since 1919 and has been at its current location at 555 Concession St. since 1992.
Leo Santos, chair of the Concession Street Business Improvement Area, said the bank had informed the BIA about the closure. “We all feel it was unfortunate,” Santos said. “Maybe it just gives an opportunity for someone else to look at opening up.”