Banks have shut more than one in three of their UK branches over the past five years and plan to axe more than a hundred more this year as they pull back from the high street and try to bolster their digital offerings. Data from the Office for National Statistics shows the number of bank, building society and credit union branches in the UK fell to 6,870 in 2024, a 34% fall on the 10,410 in 2019.
| less than a minute read
UK banks have closed more than one in three branches over past five years
“This isn’t simply about doors closing or cost-cutting . . . it’s a clear signal that high street banks are reshaping their operating models, doubling down on digital as online banking becomes second nature...
