The Royal Bank of Scotland (RBS) today announced plans to close 162 branches across England and Wales – including two Sheffield branches.
The bank said 792 jobs would be cut overall, and staff will be offered compensation for voluntary redundancy.
JUS News can exclusively reveal that two branches will be closed in Sheffield, with the Broomhill branch due to close on November 19 and the Meadowhall branch on November 28.
The Ecclesfield, Church Street and Swallownest branches will remain open.
The Barnsley and Rotherham branches are also set to close on 30 August and 7 November respectively.
This came after RBS reviewed its branch network following a failed attempt to form the basis of a new “challenger bank” with NatWest, under the brand name Williams & Glyn.
The merger, had it gone ahead, would have launched as an entirely separate bank with a different business strategy.
The company stated that the branch closures are in response to many more people using online banking as opposed to travelling to a physical banking building.
They added that most clients wouldn’t be badly affected as customers of Royal Bank of Scotland can now use NatWest branches for their everyday banking, such as withdrawing cash, checking balances or paying in (and vice versa), so customers who don’t live near an RBS branch can still access their usual services at NatWest.
An RBS spokesman said: “We are no longer launching Williams & Glyn as a challenger bank, and we now have two branch networks operating in close proximity to each other; NatWest and Royal Bank of Scotland, in England & Wales.
“As a result, we have had to review our overall branch footprint in England and Wales and we’ve made the difficult decision to close a number of Royal Bank of Scotland branches.
“Customers of Royal Bank of Scotland in England & Wales will be able to use NatWest branches instead for their everyday banking needs.”
They added: “Following a review of the branch network in England and Wales a decision has been taken to close 162 Royal Bank of Scotland branches.”
RBS closed 62 branches in 2017.