RBS to slash branches

ROYAL Bank of Scotland is axing one in four of its branches.

The lender said it will shut 62 RBS banks and 197 Natwests by June. The 259 closures will leave 24 towns and villages without a single bank. The move will also cost 680 people their jobs.

RBS blamed the closures on the rise of internet banking, with many people visiting a branch only once or twice a year. But consumer campaigners have branded the move ‘heartless’ and accused the bank of abandoning older and vulnerable customers in a bid to boost its bottom line.

After the closures, RBS and Natwest will have just 744 branches left, down from around 1,300 at the start of this year and less than half the 2,120 they had in 2011.