Fears of rural depopulation in wake of bank closures

A FARMING union has described the latest round of bank closures as devastating news for rural businesses.

Twenty NatWest bank branches around Wales are facing closure. The affected branches are at Porthcawl, Whitchurch in Cardiff, Llandaff in Cardiff, Pembroke, Treforest Estate, Ammanford, University Hospital of Wales in Cardiff, Cardigan, Cowbridge in the Vale of Glamorgan, Dolgellau, Chepstow, Lampeter, Maesteg, Pencoed, Llandeilo, Rumney in Cardiff, Milford Haven, Talbot Green, Mumbles in Swansea and Narberth.

FUW president Glyn Roberts said: “The closure of those 20 banks will have a detrimental effect on the towns, as they serve not only villages but many of the neighbourhoods in surrounding areas, as well as providing employment to local people.

“These banks are 70% owned by the UK taxpayer, so we have to ask why are there no conditions to the bailout that guarantees access to such services.

“It is clear that governments must do more for rural Wales.”

He went on: “With more and more rural services and businesses being closed down, we must also acknowledge that it is becoming less and less attractive for young families and indeed business-owners to remain in rural areas.

“If the problem of rural depopulation is not addressed with some urgency, it could have severe consequences for our rural communities and with that also our rural economy.”

Mr Roberts added: ““It is clear that if we want to ensure that Wales develops its full potential in being a rural economic powerhouse, we must make it attractive for working families to stay and also encourage vital services like business banking to remain available,”

NFU Cymru president Stephen James said: “We are concerned about the closure of many highstreet banks in rural areas, as it is placing farmers and other rural businesses at a disadvantage to those living in urban areas.

“Many banks are encouraging their customers to use online banking services, but with poor broadband in many rural areas, this is simply not possible.”

Mr James added: “In order for farm businesses and rural communities to thrive, there must be parity between the infrastructure enjoyed by those in urban and rural areas.”