Number of bank branches in Scotland halved in a decade

The Office for National Statistics (ONS) has revealed that only 860 bank branches are open across Scotland, down from over 1,500 in 2010, The Press and Journal reports.

Of the 860, only 60 are in rural communities while 800 are in urban areas, sparking fears about access to banking services across rural Scotland.

Michelle Supple, director of Age Scotland, said: “This is hitting older people hardest, who are much less likely to use internet or telephone banking. It’s clear that many banks are putting their profits ahead of serving their customers.”

Andrew McRae, chairman of the Federation of Small Businesses (FSB), added: “It is shocking that we’ve lost almost half of our Scottish bank branches.
“Unfortunately there’s no end in sight, with more banks cutting opening hours and a looming threat to the ATM network.”