Latest news with #branches
The Independent
3 days ago
- Business
- The Independent
High street bank branches are ‘thriving', Nationwide says
Nationwide Building Society has said its bank branches are 'thriving' with more customers coming through the doors over the past year as rival banks slash their high street network. The building society has pledged to keep all of its nearly 700 branches open until at least the start of 2028. New data from the group revealed that nearly 200,000 more customers used its branches in the financial year to the end of March, compared with the prior year. It comes a day before Nationwide is set to unveil its full-year financial results. Muir Mathieson, Nationwide's chief financial officer, told the PA news agency: 'The branches are thriving. 'We're seeing the number of people going into branches going up, and we think part of that (increase) is that there are fewer branches on the high street now that our competitors have closed theirs.' Nationwide has the second-largest branch network in the UK, behind Lloyds Banking Group. But Lloyds has been making sweeping cuts to its network – with the most recently-announced closures to 136 branches taking place over the next year. Others have been drastically trimming their network, such as Santander announcing in March it would be closing more than a fifth of its high street branches, bringing it down to 349 across Britain. The banks say they are adapting to meet the behaviours of their customers, who increasingly want to do banking on their phones or online and are decreasingly using their high street sites. But Nationwide suggested that UK consumers have been switching their bank to Nationwide so that they can make use of in-person services. Customers want face-to-face contact particularly if they have concerns about fraud, or if they want reassurance about a specific process or account, Mr Mathieson said. 'Interestingly, we get larger Isa balances when people open them in a branch than when they do it online,' he told PA, indicating that people feel more comfortable handling bigger sums of money in a branch. About 40% of Isas were opened in branches last year, and more than 35% of new current accounts, according to data from the building society. About 5.7 million customers visited a branch at least once during the year. Nationwide's branch promise extended to Virgin Money after buying the rival bank for £2.8 billion last year in the biggest banking deal since the financial crisis. When it bought the lender, it paused Virgin's plans to close some of its branches and brought it into the group's branch promise. It has also been working to improve the bank's customer service systems since merging, after chief executive Debbie Crosbie said there were 'challenges' to overcome.
The Sun
06-05-2025
- Business
- The Sun
Full list of Natwest branches closing next month as bank slashes 53 locations – is your local being cut?
NATWEST is slashing 53 bank branches next month in another blast to the UK high street. The firm has already reduced its portfolio of physical branches in recent years, as young people turn to online banking. 1 Last year Natwest Group closed 48 sites and in 2023 it shuttered nearly 20 branches. NatWest has more than 19million customers and it says over 3.5million customers use online banking. Since 2015, NatWest Group, which encompasses NatWest, Royal Bank of Scotland, and Ulster Bank, has closed 1,409 branches. NatWest is just one of many high street lenders looking to reduce their portfolio in recent years. Banks and building societies have closed 6,161 branches since January 2015 at a rate of around 53 each month, according to Which?. Lloyds Banking Group, comprising Lloyds Bank, Halifax, and Bank of Scotland, has shut down 1,216 sites. Barclays is the individual bank that has reduced its network the most, with 1,227 branch closures. A NatWest spokesperson told The Sun: "Our customers are using digital banking more than ever before – over 80% of our active current account holders now use our digital services and over 97% of retail accounts with us are now opened online. Santander's £130 Million Recovery: What You Need to Know 'We are also significantly investing in refreshing our network – we expect to invest in excess of £20m in our network across the UK in 2025 to improve customer service, enhance the look and feel of our branches, and reduce the environmental impact of our buildings, as well as continuing to invest in shared solutions like the Post Office and Banking Hubs. 'Like any business, we strive to meet our customers' changing needs and expectations and we've been responding to the industry wide shift towards digital services by investing to broaden what customers can do themselves and to offer them greater personalisation." What to do if your local bank branch closes New rules from the Financial Conduct Authority (FCA) mean b anks and building societies that shut branches have to make sure customers can still get cash. When they make changes, they need to check whether local communities will be left without important cash services, like branches or ATMs, and fix any significant gaps. Residents and community groups can also ask for a review of cash-access gaps, and the providers have to respond. Full list of Natwest branches closing Accrington, June 5 Alfreton & Clay Cross, June 2 Beverley, June 25 Bridlington, June 11 Cross Gates, June 10 Ellesmere Port Town Centre, June 4 Hazel Grove, June 19 Heaton Chapel, June 3 Garstang, June 26 Keighley, June 16 Leek, June 16 Longton, June 5 Manchester Portland Street, June 11 Mansfield, June 26 Mexborough, June 3 Nantwich, June 19 Newark, June 17 Rochdale, June 10 Stafford Greengate, June 25 Annes-on-Sea, June 24 Stockton on Tees, June 4 Uttoxeter, June 2 Washington, June 17 West Bridgford, June 24 Worksop, June 18 If big gaps are found, banks and building societies need to offer reasonable alternatives, like keeping branches or ATMs open until new ones are set up. Solutions can include setting up banking hubs, new ATMs, or using Post Office facilities to keep cash services going. The vast majority of banking customers are moving online and don't need a physical branch as much as before. But any closures can be an issue for others, particularly elderly people in rural areas who don't have access to the internet. However, if your local branch is set to close, or has recently, you have some options. You can carry out most basic banking tasks at your nearest Post Office. You won't be able to apply for a loan or open a new bank account at once though. You can find your nearest Post Office branch by using the locator tool on its website. Plus, hundreds more banking hubs are set to open to replace lost banking services following years of widespread branch closures. Banking hubs offer a solution by allowing staff from multiple banks to share the same space, filling the gaps that branch closures left. Banking hubs typically feature a counter service operated by the Post Office as standard, enabling customers to conduct routine banking transactions conveniently. Other banks use buildings such as village halls or libraries to offer mobile banking services. It's worth contacting your bank to see what services they have available, and when they might next be in your area.
Zawya
06-05-2025
- Business
- Zawya
Al Baraka Bank Egypt expands its network with two new branches in Sheikh Zayed and New Cairo
Cairo – As part of its ongoing commitment to expanding its geographic footprint and offering high-quality banking services, Al Baraka Bank Egypt has announced the opening of two new branches in SODIC West Town in Sheikh Zayed and SODIC East Town in New Cairo. This brings the total number of the bank's branches across Egypt to 42. These openings come in line with the bank's ambitious strategy to strengthen its branch network and increase its presence in dynamic and fast-growing communities. The aim is to meet the evolving needs of its expanding client base while offering a more efficient and seamless banking experience. The inauguration ceremonies were attended by Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, alongside members of the executive committee, including Mr. Abdel Aziz Samir, Deputy CEO for Consumer Banking; Mr. Mostafa El Aroussy, Deputy CEO for Investment and Corporate Banking; Mr. Karim Namek, Chief Financial Markets Officer; Mr. Moataz El Kasaby, Chief Operating Officer; and Mr. Hesham Abdel Salam, Chief Financial Officer. In parallel, Al Baraka Bank Egypt is preparing to open three additional branches this year, aiming to reach 45 branches by the end of 2025. The bank also plans to introduce two digital branches (e-branches) as part of its broader digital transformation strategy and efforts to expand smart service channels. Commenting on the occasion, Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated: "The opening of these two branches marks another milestone in our strategic expansion journey and reinforces our commitment to delivering advanced and diverse banking services that meet our customers' expectations. We are consistently working to better understand and address the needs of individuals and businesses, and we will continue to expand in strategic locations to support both community and economic development, in line with the Central Bank of Egypt's vision to promote financial inclusion." This geographical expansion reflects Al Baraka Bank Egypt's comprehensive vision of providing inclusive banking services that enhance quality of life and support business growth. The opening of the two new branches stands as a practical step in this direction, underscoring the bank's dedication not only to proximity through physical presence but also to delivering a distinguished banking experience based on quality and a wide range of financial solutions.
