Business Services Industry
United Kingdom Bank Takeover Bid Sparks Fresh Fear of Branch Closings.
Knight Ridder/Tribune Business News, September, 1999 by Simpson, Neil
Knight Ridder/Tribune Business News
Sep. 26 -- High Street banking may be the real loser if Bank of Scotland's takeover of NatWest goes ahead.
Experts say consolidation will speed up the wave of branch closures that already threatens one outlet in three.
Earlier this year Deloitte Consulting predicted that more than 3,600 of the UK's 11,000 branches would shut by 2005.
Derek French, chairman of the Campaign for Community Banking, said: "Bank of Scotland will need to make savings for this deal to work, and the quickest way is to accelerate NatWest's branch closure programme."
Britain's branch network is already sparse compared with the rest of Europe. Deloitte says there are just 170 bank branches per million people in...
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