May 1, 2018 4.27 pm This story is over 66 months old

Lincoln Royal Bank of Scotland branch to close

Another name to disappear from Lincoln High Street

The Royal Bank of Scotland (RBS) has said that it will be closing all three of its Lincolnshire branches, including in Lincoln.

This comes after the bank announced earlier today that it would be closing a total of 162 of branches in England and Wales, resulting in almost 800 job losses.

Following a review of the branch network in England and Wales a decision has been taken to close 162 Royal Bank of Scotland branches, with branches at the Stonebow Centre in Lincoln, on Victoria Street in Grimsby and on High Street in Scunthorpe on the list of closures.

There will be no changes to the NatWest retail banking business in Scotland.

As a result of this process, around 792 members of staff will be made redundant, however the number of job losses in Lincolnshire is unknown at the time of writing.

RBS said the decision was made due to ‘radical’ changes in the way customers bank over the last few years.

Since 2014, branch transactions across Royal Bank of Scotland in England & Wales are down 30%.

During this same period, there has been a 53% increase in the number of customers using mobile banking and mobile transactions have increased by 74%.