RBS confirms closure of four Lanarkshire branches despite earlier reprieve

dailyrecord.co.uk:

Royal Bank of Scotland has confirmed the closure of four Lanarkshire bank branches, which were previously granted a reprieve amidst ongoing scrutiny.Despite hopes outlets might remain operational while the effects of new financial regulations were assessed, RBS management has resolved to shut them down, with future closure dates yet to be announced.A total of 11 branches are being shut including Cumbernauld, East Kilbride, Rutherglen and Wishaw.The Lanarkshire Live app is available to download now.

Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android This development occurs in the wake of fresh guidelines from the Financial Conduct Authority (FCA), which require banks to more thoroughly consider the cash needs of local communities before closing branches.The NatWest Group, owner of RBS, had indicated that due to the new rules, it was collaborating with the FCA to “ensure we are supporting customers in locations where our branches are due to close later this year”.When RBS were queried about the possibility of the branches staying open, a spokesperson stated: “We’re fully compliant with our regulatory obligations around closures.“We’re taking the opportunity to further review the detail on cash services available to customers following the closure of some branches that we’ve scheduled to close in the coming months.