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The Markets
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The Markets
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Proactive UK has moved.
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Banks

Natwest joins in swathe of further bank branch closures in 2023

NatWest Group PLC (LSE:NWG) is closing another 23 branches around England and Wales, extending the swathe of closures across the banking sector in recent weeks.

The bank formerly known as RBS revealed 21 sites have been earmarked for shuttering in England and two in Wales.

Sites including Bootle, Fleet, Frome, Llansamlet, Torquay and both Clapham High Street and Marylebone High Street in London will shut down between late April and early June, NatWest said, with two still to be confirmed.

It comes fresh after announcements from Lloyds Banking Group PLC (LSE:LLOY) and Barclays PLC (LSE:BARC) that they will close more of their branch networks.

Lloyds warned 40 more Halifax and Lloyds sites were slated for an exit, while Barclays added 15 to its list of closures.

The former blamed decreasing footfall to branches due to online banking, with customers visiting its earmarked branches having dropped by an average of 60% during the last five years.

FTSE 100 rival HSBC Holdings PLC (LSE:HSBA) said late last year that it would exit 114 bank branches in 2023 - around a quarter of its remaining bricks and mortar network.

Before Natwest's announcement, it was calculated that 224 branch sites have been announced for closure over the next six months.

The full list of 23 NatWest bank branches set to close are:

  • Southampton, Bitterne Road - April 25, 2023
  • Blackpool, Lytham Road - April 25, 2023
  • London, Clapham High Street - April 26, 2023
  • Stroud, Bank Buildings - April 26, 2023
  • Fleet, Fleet Road - April 27, 2023
  • Heslington, Main Street - April 27, 2023
  • Horwich, Lee Lane - date to be confimed
  • Dunstable, High Street North - May 3, 2023
  • Maidstone, Sutton Road - May 4, 2023
  • Exeter, St. Thomas Centre - May 9, 2023
  • Bootle, Stanley Road - May 10, 2023
  • Crawley, Gatwick Road - May 11, 2023
  • Frome, Market Place - May 11, 2023
  • Broadwater, Broadwater Street East - May 16, 2023
  • Colwyn Bay, Abergele Road - May 17, 2023
  • Ilminster, East Street - May 18, 2023
  • London, Marylebone High Street - May 23, 2023
  • Sheerness, High Street - May 24, 2023
  • Shoreham-by-Sea, East Street - TBC
  • Llansamlet, Phoenix Way - May 25, 2023
  • Cranbrook, High Street - May 30, 2023
  • Torquay, Newton Road - May 31, 2023
  • Birstall, Loughborough Road - June 1, 2023
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