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NatWest to 'close 142 branches' 2023

By Ross Henry Law

NatWest has reportedly announced plans to shutter a further 36 branches in 2023.

According to Which?, the additional branches marked for closure brings NatWest’s tally to 142 branches set to close in 2023.

The consumer champion’s running total also revealed that NatWest has earmarked two branches for closure in 2024, suggesting the trend is set to continue.

NatWest previously announced 43 branch closures for 2023 in a move that has proliferated throughout the UK banking sector.

HSBC closed 69 branches in 2022 and announced plans to close 114 in 2023.

Barclays recently announced the closure of 14 additional branches in addition to 55 already pegged for closure this year.

As the wave of branch closures continues, the establishment of nine shared banking hubs was recently announced.

At the hubs, customers of all major banks in the UK – Barclays, Danske Bank, HSBC, Lloyds Banking Group, Nationwide, NatWest, Santander, TSB, and Virgin Money – can carry out regular cash transactions throughout the working week.

Going against the grain, Nationwide Building Society recently pledged to keep all of its branches open until “at least 2026” to serve local communities.

NatWest previously announced its branch closures were informed by “dramatic changes” to banking conduct in recent years, with an increased reliance on mobile and online banking.

At the time, a spokesperson said: “Closing a branch is a decision we take very seriously. We know it can affect people who are less confident with the alternatives we offer, and we'll always work hard to guide you through the changes and find the best way to serve you from now on.”

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