Anger as TSB joins banking exodus from Mid Argyll
An accelerating move towards online banking is being blamed for the planned closure of Lochgilphead’s TSB branch in the new year.
The Mid Argyll branch is one of 73 closures in the latest round of cuts, along with Campbeltown, Dunoon and Rothesay.
A TSB spokesperson said: ‘These decisions are the most difficult we take, but we must always be guided by our customers and we are clearly witnessing a substantial shift towards digital banking.
‘We operate a more extensive branch network than most other banks in Scotland, including some much larger than TSB, and we need to reduce its size to reflect the changing needs of our customers and a fast-evolving operational environment. We are working to ensure the transition towards digital – which is being seen right across the economy – is handled sensitively and pragmatically for our colleagues and customers.’
The move will result in the loss of around 300 jobs in Scotland, part of 900 job cuts across the UK. The TSB spokesperson said that ‘some colleagues may move to take up other roles in the business while others may opt to take voluntary redundancy’.
Argyll and Bute MSP Michael Russell told the Advertiser this week: ‘I am angry that once again a large, profitable organisation is withdrawing from this rural constituency purely because of cost cutting.
‘We need a fresh approach to our small towns and a fresh approach to our ambitions as an area and a nation. The TSB and the entire commercial sector need to help with that, not hinder it.’
There is concern that the move will hit older and vulnerable customers hardest.
Brian Sloan, chief executive of Age Scotland, said he was ‘appalled’ by the latest round of closures. ‘The relentless push towards online or telephone banking may be convenient for many, but it doesn’t suit everyone,’ explained Mr Sloan.
‘We are urging banks to consider the needs of all their customers and not leave older people out in the cold. Instead of closing branches, they could look at creative solutions such as shared branches, with several banks sharing the cost of staff and premises.’
Highlands and Islands MSP Donald Cameron said: ‘It is simply not the case that all bank customers are happy to bank online. That is particularly the case in communities in Argyll and Bute where we have a relatively large elderly population.’
Councillor Dougie Philand questioned whether any local consultation had taken place prior to the announcement, saying: ‘The banks were bailed out by public money years ago and now should be supporting small fragile communities at this difficult time.’