Fresh blow as another famous name to quit Glasgow's historic Sauchiehall Street

NatWest is to shut one of its main RBS branches in Glasgow in a fresh blow for one of the city’s most famous shopping thoroughfares.

Royal Bank of Scotland (RBS), part of NatWest Group, has been closing scores of branches in recent years amid the increase in online and mobile banking.

The planned closure of the Sauchiehall Street branch comes as the banking giant takes the axe to a further 18 NatWest branches south of the Border. It is the latest tranche of hundreds of banks and building societies that have closed across the UK in recent years though Nationwide Building Society recently made a commitment to keep its branches open for the time being.

The RBS Sauchiehall Street branch is to remain open until November 19 next year. Its eventual closure will be a further blow for a famous Glasgow street that has suffered particularly badly amid the transition to online shopping and out-of-town retail parks, having lost the likes of Marks & Spencer, BHS and Watt Brothers.

So far in 2023 alone, banks have announced the closure of 578 branches across the UK. The largest number of closures announced this year have been Barclays branches. The group has said 185 of its sites are set to shut.

NatWest Group is second with 116 branches, followed by Lloyds (112), Halifax (72), Virgin Money (40), Bank of Scotland (28), Ulster Bank (10), TSB (nine), RBS (five), and Nationwide (one).

It comes as the average number of transactions made over the counter at NatWest Group branches fell 60 per cent in the four years to January 2023. Many customers have chosen to use mobile apps instead.

NatWest said: “As with many industries, most of our customers are shifting to mobile and online banking, because it’s faster and easier for people to manage their financial lives. We understand and recognise that digital solutions aren’t right for everyone or every situation, and that when we close branches we have to make sure that no-one is left behind.

“We take our responsibility seriously to support the people who face challenges in moving online, so we are investing to provide them with support and alternatives that work for them.”

The closure of so many bank branches has left those that remain open much busier when customers do require face-to-face services.

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