Yorkshire Bank to close 28 branches and invest £35 million in remodel
Yorkshire and Clydesdale Banks have announced the closure of 28 “unsustainable” branches with the savings to be reinvested in other sites.
The Banks’ network of 320 branches will also be reshaped as part of a £25 million branch investment programme.
This is in addition to over £20 million investment in services for customers including the expansion of mobile banking, mprovements to internet banking and text alerts.
They will also launch contactless payment technology for debit cards and mobile payments with the introduction of Paym which will enable payments to be sent and received using just a mobile number.
New and improved sites are currently being identified and secured, allowing four branches to move to better locations. A total of 28 unsustainable branches will close; the majority as a result of lease break review points.
The associated £5 million savings will be fully reinvested in improving the remaining branch network.
David Thorburn, Chief Executive Clydesdale Bank and Yorkshire Bank, said: “There’s a lot of positive change being driven forward for our customers and there needs to be more as we build a better bank.
“Here we are making a significant investment to meet the changing needs of customers now and in the future.
“But to deliver what are fundamentally necessary changes, we have to face in to difficult decisions. No branch closure is welcomed by customers or staff, I understand that, which is why we are working to minimise the effects these changes have on them.
“Our resources must now be focussed on where they can deliver the best results for customers, moving with them as their demands change.
“A branch network remains at the core of what we do, and we are investing in it, but we must balance that against the investment we need to make in the services customers now expect and are using more; online and mobile banking services that give customers control of their finances when and where they want it most.”