UK bank Clydesdale to shut 32 more branches
The Scottish retail bank Clydesdale is to continue its ongoing restructuring by closing a further 32 branches.
The branches to be shut are mostly located in the suburbs of Glasgow and Edinburgh, with some in the Border region. The move will leave Clydesdale with 153 high street outlets, down from the 217 branches it had at the start of its restructuring in May 2005. The bank has stressed that the latest tranche of closures are the last for the foreseeable future. Scottish politicians have reacted angrily to the news, accusing Clydesdale of treating its customers with contempt, and leaving some communities bereft of a bank branch. Clydesdale's owners, National Australia Bank, insisted though that the rationalization was necessary in an age when fewer consumers are using the branch environment to look after their finances, given the growth in popularity in Internet and telephone banking. David Thorburn, Clydesdale's chief operating officer in Scotland, told The Herald newspaper that: the decision to close any branch is an extremely difficult one and we regret any inconvenience this may cause to our customers. However, for our business to be efficient... our branch network must reflect our customers' changing usage patterns.
Related Insight
Suppliers Directory
Wealth & Assets Management Asset Management Hedge Funds Private Equity Mutual Funds
Intermediaries Prime Brokerages Custody & Clearing ECN & Exchanges
Technology Banking Technology Security Tech Outsourcing & BPO
Policies & Regulatory Compliance Risk Management
Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
Comments may be moderated for spam, obscenities or defamation.