Virgin Money announced that it is closing 31 of its branches as the number of customers using physical bank branches continues to decline.
Some 112 full-time jobs will be lost as a result of the closures, which will be implemented early next year, the bank said in a statement.
The number of customers using bank branches for day-to-day transactions has been falling for years and has been accelerated by the pandemic, it said.
Fergus Murphy, group customer experience director at Virgin Money, said: “As our customers change the way they want to bank with us and conduct fewer transactions in-store, we must continue to evolve the role of our stores into places where we showcase our products and bring our digital services to life.”
The closures will reduce the number of Virgin Money branches across the UK to 131.