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Barclays leads UK bank branch closures with 1,236 sites shut, followed by NatWest (904) and Lloyds (821). In April 2025, 18 branches, including those of Halifax and NatWest, will close, contributing to a total of 88 closures in the first quarter. Since 2015, over 6,293 branches have closed, with 282 more planned for 2025, as online banking usage rises.
UK banks, including Barclays, Lloyds, and NatWest, are set to gain over £50bn from structural hedging, a strategy that manages interest rate risk through interest rate swaps. This approach, particularly the "caterpillar" hedge, allows banks to stabilize revenues and predict profitability amid fluctuating rates. Analysts highlight the varying strategies among banks, with Lloyds employing a dynamic method, while Barclays and NatWest favor a more mechanical approach, positioning them well for future interest rate changes.
Cash Access UK is revitalizing the former Royal Bank of Scotland building in Wick, which closed in May 2018, to serve as a community banking hub. The hub will feature two meeting rooms, an ATM, and a large banking hall, with plans to open before the Bank of Scotland's closure in June 2025. This initiative aims to enhance accessibility and repurpose the historic building for community use, following the loss of multiple bank branches in the area.
Wick is set to open a banking hub in the former Royal Bank of Scotland building, providing essential face-to-face banking services five days a week after the closure of the last bank branch in June. Operated by the Post Office and supported by Cash Access UK, the hub will offer a counter service for basic transactions and a community banker service for more complex needs. This initiative aims to address the banking needs of the community following the loss of multiple bank branches in recent years.
Mortgage rates have risen again, with HSBC increasing rates for five and two-year fixed mortgages, following a trend among lenders responding to higher swap rates. Average two-year fixed rates climbed from 5.4739% to 5.5198% this week, raising concerns for potential homebuyers and those looking to remortgage. Despite positive inflation data calming bond markets, the recent hikes may lead to further increases from other banks.
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bank branch closures accelerate with 18 more shutting in april 2025
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07:00 23.03.2025
uk banks poised for gains through structural hedging strategies
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06:00 20.03.2025
cash access uk revives former royal bank building as community banking hub
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16:00 01.02.2025
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17:38 31.01.2025
hsbc raises mortgage rates amid rising borrowing costs and inflation data
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