NatWest continues its trend of branch closures as online banking usage rises, impacting the UK high street.
NatWest is planning to close 53 more of its branches across the UK in 2023, adding to the growing number of high street bank closures. This move comes as more customers opt for online banking services, a trend observed across the banking industry. NatWest has already closed a significant number of branches in recent years, with 48 closures in 2024 and nearly 20 in 2022.
Barclays and Lloyds Banking Group have also been scaling back their physical presence, closing over 1,200 branches in recent years. A spokesperson for NatWest emphasized the increasing popularity of digital banking, stating that over 80% of their active current account holders now use digital services, and over 97% of retail accounts are opened online. The bank is investing in its remaining branch network to enhance customer service, modernize the look and feel of branches, and reduce environmental impact. These investments will exceed £20 million in 2025. NatWest also highlighted its commitment to providing alternative banking options through partnerships with the Post Office and Banking Hubs. The bank aims to meet the evolving needs of its customers by expanding digital capabilities and offering more personalized services. A full list of the branches scheduled for closure in 2023 is provided alongside this article
NATWEST BANK BRANCH CLOSURE ONLINE BANKING DIGITAL TRANSFORMATION HIGH STREET
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