Bank row continues as Linlithgow branch set to close
The Royal Bank of Scotland is facing its last full calendar month of trading in Linlithgow with closure earmarked for Wednesday June 27.
The High Street branch will be among the last to cease treading in a roll-out of controversial shut downs over May and June
This will affect 62 Scottish branches in total
Members of the Scottish Affairs Select Committee were told in January that closing the branches would save £9.5 million per year.
Yet it has now emerged that the bank reported a profit of £729 million for the first three months of this year- up from £259 million for the same quarter last year.
It is now predicted that the bank is set to treble its profits this year.
And that should stop shutdowns according to Mary Alexander Unite’s deputy Scottish secretary who is calling for a re-think of the closures.
She said:“Here we have it in black and white on the RBS balance sheet- RBS is rolling profits. Surely now it is time for the bank to call a moratorium on the axe hanging over these branches? After all, this is a totally different situation profit-wise to when the plans were made to close one in three branches!”
“What is the point of closing 62 branches to save next to nothing in the grand scheme of things against profits of three quarters of a billion pounds in three months?
“It’s time to call a halt to the closures to save the communities affected.”
RBS claims that a rise in online banking is making the need for branches obsolete.