Overseas brief: UK banks to give notice of branch closures

Banking Day staff
  • British banks will have to provide 12 weeks' notice before closing a branch and publish assessments on the impact of the closure on customers, under a new protocol put together by the British Bankers Association. Finextra reports that the BBA insisted that banks were free to make commercial decisions about the size of their branch networks but they would have to consider the fair treatment of customers in the process. There has been a large number of branch closures in Britain, where retail banks were hit hard by the financial crisis.