Clydesdale and Yorkshire Bank owner CYBG said that 40 branches of Clydesdale Bank and 39 branches of Yorkshire bank will close in 2017 “as part of the bank’s strategy to create a truly integrated digital, mobile, telephone and branch service for its customers.”
CYBG said that since 2011, the number of customers using their bank for day-to-day transactions across the banking industry in the UK has fallen by a third.
“This ongoing decline in branch usage, married to a sharp and sustained increase in digital and mobile engagement, has driven a shift to providing greater access to day-to-day banking services remotely, on the move and outside of normal business hours,” said CYBG.
“The bank continues to reshape its service offering in response to these changing needs.
“To support this transformation the bank is committing £350 million over the next two years, embracing digital innovation while continuing to invest in a more sustainable branch network to deliver a superior customer experience.
“The benefits of this approach can already be seen through a significantly enhanced digital offering, a programme of new flagship branch openings and refurbishments.”
CYBG said it would try to find other jobs for branch staff affected, but added: “However, there will inevitably be employee number reductions as a result of these changes.”
CYBG anticipates around 400 Clydesdale Bank and Yorkshire Bank staff “will be at risk of redundancy and subject to our redeployment process.”
The Unite union said: “The decision by the bank to close one third of its branch network will be deeply devastating to the employees of the Clydesdale and Yorkshire Bank.