Friday, November 22, 2024

Yorkshire hit by bank crisis with as many as two-thirds of branches in the region closing since 2015

Must read

Closures: As many as two thirds of bank branches in the Yorkshire and the Humber region have closed since 2015

Yorkshire and the Humber has the fewest bank branches left per person in the UK, with just 248 to serve a population of 5.6 million, consumer group Which? has found.

As many as two-thirds of branches in the region have closed since 2015, leaving 4.4 per 100,000 people. The East Midlands has the second-worst access to banks, with just 4.6 branches per 100,000 people.

There are now 30 parliamentary constituencies without a bank – nine of which are in Yorkshire and the Humber.

However, new rules mean banks and building societies now have to take a community’s need for access to cash into account before shutting a branch.

Sam Richardson, deputy editor of Which? Money, says the rules ‘should make banks think twice about shutting branches without adequate replacements’.

Latest article