Banks have shut more than one in three of their UK branches over the past five years and plan to axe more than a hundred more this year as they pull back from the high street and try to bolster their digital offerings.
Data from the Office for National Statistics shows the number of bank, building society and credit union branches in the UK fell to 6,870 in 2024, a 34 per cent fall on the 10,410 in 2019. Last year alone saw a 10.4 per cent decline.
The closures have continued apace this year, with Lloyds, NatWest, Halifax and Bank of Scotland set to close 113 branches before the end of November. In March, Santander announced it would close 95 of its 444 branches in the UK.
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