Another bank to close in Norwich
PUBLISHED: 14:36 16 April 2019 | UPDATED: 09:05 17 April 2019
TSB bank has announced it is closing one of its city centre outlets.
The bank has revealed the Unthank Road branch, in the city's Golden Triangle, will close in September of this year.
A spokesman said: “We continually review our branch network and as part of the most recent review we have taken the very difficult decision to close our Norwich Unthank Road branch.
“Customers are changing the way they interact with us and over the past few years we have seen the usage of the branch continue to fall. Over 80% of customers at our Unthank Road branch either use alternative TSB branches, online, mobile or telephone banking to access TSB banking services. As a result, keeping the branch open is now no longer financially viable.”
The TSB group also has outlets in Norwich's Guildhall Hill and Magdalen Street.
But the news has sparked a backlash from the area's MP Clive Lewis who said bank closures are damaging local communities.
The Labour MP said: “Over two-thirds of small businesses say a local bank branch is important and lending to small businesses has been found to drop by 63% in areas with a recent bank branch closure. For deprived communities and households, loss of a local bank branch significantly diminishes their abilities to access even basic financial services. Older people are significantly less likely to use internet or phone banking services.
“It's time our banks recognise that they are a utility providing an essential public service. Shutting bank branches not only means jobs will be lost but also damages local communities.”
If you value what this story gives you, please consider supporting the Eastern Daily Press. Click the link in the orange box above for details.