/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.
NatWest to shutter 143 branches in 2023

NatWest to shutter 143 branches in 2023

NatWest Group is to bring the shutters down on a further 36 branches, bringing the running toal for the year to 143, with a further two sites already earmarked for closure in 2024.

NatWest's plans adds to a wave of closures announced by the UK big banks in the first months of the year.

NatWest , like its peers, has been operating a phased programme for branch closures throughout this year in an attempt to soften the blow.  A January announcement of 21 branch closures was followed in March by plans to shutter a further 40 outlets. NatWest had already announced plans to axe 43 branches in the first half of 2023, adding to 15 announced in May and 21 in February.

NatWest has previously said that the way people bank had changed "dramatically" in recent years with an increased demand for mobile and online services.

It added: "Closing a branch is a decision we take very seriously. We know it can affect people who are less confident with the alternatives we offer, and we'll always work hard to guide you through the changes and find the best way to serve you from now on."

Comments: (1)

A Finextra member
A Finextra member 12 July, 2023, 13:51Be the first to give this comment the thumbs up 0 likes

Is it just me or is the term "shutter" a bit annoying. Why not "shut"?  This is about increased use of online banking, not too much sun getting into the branches!