NatWest is planning to bolster its branch network with a £50m investment over the next 18 months, committing to keep all branches open until at least 2029. This move follows a decade that saw the bank shutter more than 1,000 sites, second only to Barclays, which closed over 1,200 branches.
Branch Closures and Industry Context
The banking giant confirmed that nine branches would close as part of the latest network overhaul, but these are expected to be the last closures until 2029. The affected branches include Royal Bank of Scotland sites in Arbroath, Biggar, Castle Douglas, Giffnock, Milngavie and Motherwell, and NatWest branches in Ashton Gate (Bristol), Llanelli and Port Talbot. They will close between September 8 and 17.
Barclays made a similar pledge earlier this year, outlining plans to grow its network. HSBC has committed to keeping its 327 branches open until at least 2027, while Nationwide has promised no closures until 2030. In contrast, Lloyds announced plans to shut a further 95 sites in February, reducing its footprint to 610 branches from 1,500 a decade ago.
NatWest's Strategy and Mobile Banking
NatWest operates approximately 366 branches and runs the UK's sole mobile branch service, a fleet of purpose-built banking vans serving rural and underserved areas. Solange Chamberlain, chief executive of retail banking at NatWest, said the bank would invest "to offer customers a seamless mix of ways to bank with us." She added: "We will not announce any further branch closures until at least 2029 and are expanding more flexible and accessible ways to bank, with enhanced support to help customers act with confidence and achieve their financial goals."
Government Review on Face-to-Face Banking
The sector's evolving stance on physical branches comes as the Government conducts a review into face-to-face banking provision. The review aims to gather evidence on the impact of branch closures and identify those most affected to determine where intervention might be needed to safeguard access to services.
