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RBS to close a quarter of its UK branches, drawing criticism

Reuters  |  LONDON 

By Emma RumneyLONDON (Reuters) - British state-owned Royal Bank of Scotland (RBS) said on Friday it will close around a quarter of its branches and cut 680 jobs as it cuts costs and encourages customers to use digital services, drawing criticism from lawmakers. The latest round of 259 branch closures by the Edinburgh-based bank follow 180 announced in March, putting 1,000 jobs at risk, and a similar move by Lloyds Banking Group which said on Wednesday it would close 49 branches.The RBS cuts mean British banks are set to close more than 1,000 branches this year, a record according to a Reuters ...

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First Published: Fri, December 01 2017. 23:59 IST