Banks: Closures
The question
To ask the Chancellor of the Exchequer, how many banks have closed (a) since 4 July 2024 and (b) in the last five years.
Answered by Lucy Rigby
The Government does not hold bank branch closure data.
Guidance from the FCA sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs, and put in place alternatives, where this is reasonable.
The Government is working closely with banks to roll out 350 banking hubs by the end of this Parliament. These will provide individuals and businesses up and down the country with critical cash and banking services.
Over 240 hubs have been announced so far, and more than 190 are already open.
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