The widespread adoption of online banking, offering unprecedented speed and convenience, has dramatically reduced the importance of physical bank branches. This shift is particularly evident among the UK's "big four" banks - Barclays, Lloyds, HSBC, and NatWest. Between 2017 and 2024, Barclays, Lloyds, and NatWest closed more than ***** branches nationwide, while their major competitors also implemented substantial branch closure programs. This marked decline in physical locations reflects the banking sector's increasing pivot toward digital services. Does the closure of branches affect employment? The impact of bank branch closures extends beyond customer inconvenience in rural and regional areas. The human cost has been particularly severe, with significant job losses across the banking sector. The number of employees in European credit institutions decreased by approximately ******* between 2009 and 2023, with UK banks contributing heavily to this decline. Two striking examples are Lloyds and NatWest Group, both of which reduced their workforce by nearly half between 2012 and 2023, highlighting the dramatic transformation of traditional banking employment. Key reasons behind closures While the decline of physical bank branches is frequently attributed to the growing popularity of digital banking - with most UK account holders now favoring mobile and online services over in-person banking - this only tells part of the story. Branch closures also represent a strategic cost-cutting measure as banks face increasing pressure on profit margins. This downsizing aligns with broader regulatory requirements for European banks to maintain stronger capital reserves, a safeguard implemented to prevent future financial crises.

Between 2012 and 2023, the number of bank branches in the UK experienced a significant decline, falling from 11,355 to approximately 5,100. This reduction was especially pronounced among the UK's largest banks - HSBC, Lloyds, Barclays, and NatWest - each of which closed over 1,000 branches between 2017 and 2024.

United Kingdom UK: Branches: per 100,000 Adults: Commercial Banks data was reported at 25.141 Number in 2013. This records an increase from the previous number of 22.088 Number for 2012. United Kingdom UK: Branches: per 100,000 Adults: Commercial Banks data is updated yearly, averaging 25.727 Number from Dec 2004 (Median) to 2013, with 10 observations. The data reached an all-time high of 29.026 Number in 2004 and a record low of 22.088 Number in 2012. United Kingdom UK: Branches: per 100,000 Adults: Commercial Banks data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Banking Indicators. Commercial bank branches are retail locations of resident commercial banks and other resident banks that function as commercial banks that provide financial services to customers and are physically separated from the main office but not organized as legally separated subsidiaries.; ; International Monetary Fund, Financial Access Survey.; Median; Country-specific metadata can be found on the IMF’s FAS website at http://fas.imf.org.

******** led UK banks in branch closures between 2019 and 2024. Among major UK banks, ****** followed as the second most aggressive in reducing its physical presence across the country through branch closures. ****, the largest UK bank, closed *** branches between 2019 and 2024, but had no plans for further bank closures at the end of 2024.

In Europe, the rise in popularity of online-only banks has been phenomenal. The London based digital bank Revolut, which was launched in July 2015 now has over *********** customers. In the United Kingdom (UK) alone, more than two thirds of bank customers use online banking. Statista estimates have forecasted that by the end of 2020, Revolut will have surpassed over ************ customers worldwide.

Venture capital and acquisitions

It is not only customers that believe in online banking. As of July 2019, the Berlin based N26 saw extended series of D funding, making them the highest venture capital backed bank in Europe. Larger high street banks have also been quick to realize the opportunities and threats faced by digital banks. Large banks such as Santander partner with, invest in or purchase FinTech companies based on their business strategy.

Fears of digital banking

One of the issues faced with online banking is threat of fraud. In the United Kingdom (UK), the value of online bank fraud losses amounted to over 120 million British pounds in 2018.

Between 2015 and early 2024, Barclays emerged as the UK bank with the highest number of branch closures, with a total of ***** branches closed. It was followed by NatWest in second place and Lloyds in third place, while HSBC, the UK's largest bank, also carried out significant branch closures during this period.

The number of commercial bank branches in the United Kingdom increased by 3.1 branches per 100,000 adults (+14.02 percent) in 2013 in comparison to the previous year. This was the first time during the observed period that the number of commercial bank branches has increased in the United Kingdom. Commercial banks are financial institutions which offer consumers and small to mid-sized businesses with basic banking services such as deposit accounts and loans. They make money from a variety of fees and by earning interest income from loans. A bank branch is a physical location of a banking corporation.Find more statistics on other topics about the United Kingdom with key insights such as broad money annual growth rate, ratio of bank capital and reserves to total assets, and total value of stocks traded.

This statistic illustrates the estimated number of branches in the United Kingdom (UK) for the leading United Kingdom headquartered banks, as well as a few foreign banks active on the British market, as of 2017. The number of branches of the leading banks has been a recurring topic in the news, in the context of many branches closing down, specifically in the rural parts of the country. Out of the Big Four banks (Royal Bank of Scotland, Barclays Bank Plc, Lloyds Bank Plc and HSBC Bank Plc), three occupied the top places in the ranking of branches numbers, with nearly four thousand branches in total between the three of them. London headquartered Barclays bank led the ranking in 2017, with estimated 1464 in the whole country. Santander bank was ranked on the fifth position, with 945 branches. The decrease in the UK bank branch numbers should be seen in the general context of decline in bank branch numbers in Europe, which has been noted over the past years. This decline in branch banking is frequently linked with the growing popularity of new banking methods, such as online or mobile banking, as well as app banking.

United Kingdom - Number of Branches or offices, Non-banks offering storage of value

Over the five years through 2024-25, UK banks' revenue is expected to climb at a compound annual rate of 1.7% to £128.6 billion, including an anticipated hike of 2% in 2024-25. After the financial crisis in 2007-08, low interest rates limited banks' interest in loans, hitting income. At the same time, a stricter regulatory environment, including increased capital requirements introduced under the Basel III banking reforms and ring-fencing regulations, constricted lending activity. To protect their profitability, banks such as Lloyds have shut the doors of many branches and made substantial job cuts. Following the COVID-19 outbreak, the Bank of England adopted aggressive tightening of monetary policy, hiking interest rates to rein in spiralling inflation. The higher base rate environment lifted borrowing costs, driving interest income for banks, who reported skyrocketing profits in 2023-24. Although profit grew markedly, pressure to pass on higher rates to savers and fierce competition weighed on net interest income at the tail end of the year, the difference between interest paid and interest received. UK banks are set to continue performing well in 2024-25 as the higher interest rate environment maintains healthy interest income, aiding revenue growth. However, net interest income is set to dip marginally due to higher deposit costs and narrow margins on mortgage loans. With further rate cuts priced into markets, savings rates will drop in 2024-25, stemming the drop in net interest income. Over the five years through 2029-30, industry revenue is forecast to swell at a compound annual rate of 3.3% to reach £151.1 billion. Regulatory restrictions, tougher stress tests and stringent lending criteria will also hamper revenue growth. Competition is set to remain fierce – both internally from lenders that deliver their services exclusively via digital channels and externally from alternative finance providers, like peer-to-peer lending platforms. The possibility of legislation like the Edinburgh reforms will drive investment and lending activity in the coming years, if introduced. However, concerns surrounding the repercussions of less stringent capital requirements and the already fragile nature of the UK financial system pose doubt as to whether any significant changes will be made.

Employment in the financial services sector in the United Kingdom fell between 2001 and 2021. The total number of people employed in this sector amounted to approximately 1.1 million in 2021, a figure that is unchanged since 2009. This was a decrease compared to pre-global recession figures, when on the British market there were 1.2 million people employed in all subsectors of financial services. These figures have decreased as a result of the crisis and closure of bank branches across the country.

The closing of bank branches

The increasing usage of online banking has resulted in a large number of bank branch closures in the United Kingdom. Many banks have seen dramatic declines in their number of branches in the last few years. The branch closures have become a way for the banks of decreasing expenditure as profit margins become tighter.

Financial service sector

Financial services, which include banks, credit unions, credit-card companies, accountancy firms, insurance companies as well as financial service companies are an integral part of any economy. The banking sector assets as percentage of gross domestic product (GDP) was approximately 378 percent in 2019.

Graph and download economic data for Geographical Outreach: Number of Commercial Banks for United Kingdom (GBRFCIODCNUM) from 2004 to 2023 about United Kingdom, banks, and depository institutions.

Branch banking usage in the United Kingdom (UK) decreased notably between 2019 and 2025, though remained relatively stable between 2021 and 2025. According to Statista's Consumer Insights, the share of bank account holders who processed banking affairs in person in a branch dropped from ** percent in 2019 to ** percent by the end of 2021, then stood at ** percent until the first quarter of 2025. Branch banking usage was significantly higher in the U.S. during the same period, where almost half of all respondents still processed banking matters in person in 2025.

This is an overview of geographical cash access coverage in the UK at the end of the fourth quarter (October to December) of 2022. This monitoring forms part of the FCA’s work on access to cash. On a quarterly basis, the FCA, along with the Payment Systems Regulator (PSR), gather and update data on access to cash. This captures the locations of cash access points and other relevant information like temporary closures, opening hours, and accessibility. This data covers brick-and-mortar, mobile bank, and building society branches, automated teller machines (ATMs), and the Post Office network. We supplement this information with annual data on cashback locations. Previously the summary focused on coverage within 2km and 5km of a cash access point. Starting this quarter the primary measurements of coverage will focus on deposit and withdrawal facilities in urban areas at 1 mile and rural areas at 3 miles. The FCA estimates that for access to larger banks and building societies providing Personal Current Accounts (PCA) and Post Office: all branches, including mobile bank branches: * 97.4% of the UK urban population are currently within 1 mile of a free-to-use cash access point offering deposits * 98.3% of the UK rural population are currently within 3 miles of a free-to-use cash access point offering deposits The FCA estimates that for access to any bank, building society, Post Office branch, or any free ATM: * 99.3% of the UK urban population are currently within 1 mile of a free-to-use cash access point offering withdrawals * 98.7% of the UK rural population are currently within 3 miles of a free-to-use cash access point offering withdrawals

This statistic shows the number of branches of the Royal Bank of Scotland group worldwide, as of December 2014. In that time, NetWest and RBS had 1,286 and 563 retail branches in the United Kingdom (UK), respectively. Citizens Financial Group, belonging to the RBS Group, had 1,218 retail banking offices in the United States. In Northern Ireland and the Republic of Ireland, Ulster Bank was present with 199 branches operational.

The FCA provides an overview of geographical cash access coverage in the UK at the end of the first quarter of 2021. This is the first in a series of regular updates that will monitor coverage over time. The FCA, together with the Payment Systems Regulator (PSR), gathered data on cash access point locations and other access characteristics, including temporary closures, opening hours, and accessibility, for brick-and-mortar and mobile bank and building society branches, automated teller machines (ATMs), and the Post Office network. This analysis provides insights on the proportion of the population within a range of distances of certain types of cash access points measured from where people live. The FCA estimates that for access to any bank, building society, or Post Office branch, or any ATM (either free or pay-to-use): * 95.6% of the UK population are currently within 2km of a cash access point * 99.7% of the UK population are currently within 5km of a cash access point For free-to-use access points only: * 95.4% of the UK population are currently within 2km of a cash access point * 99.7% of the UK population are currently within 5km of a cash access point Our analysis of other access characteristics finds that: * About 14% of larger personal current account (PCA) providers, that is, larger banks and building societies which offer PCA, and 10% of other bank and building society branches were temporarily closed for 1 day or more during the first quarter of 2021. * At the end of the first quarter of 2021, the vast majority of bank and building society branches were operating on reduced hours compared to February 2020. * Of the brick-and-mortar bank and building society branches, 63% of larger PCA providers and 55% of other branches are wheelchair accessible, have step-free access, and have a hearing/induction loop. Excluding the branches for which some values are unknown as data was not provided, these percentages are 87% and 80% respectively.

Open Banking Data - Bank and ATM locations Four csv files containing geolocations for Barclays' and HSBC's ATMs and branches in the UK. Their Open Banking API documentation is available in the following links: https://developer.hsbc.com/index.html https://developer.barclays.com/catalogue/api

This statistic displays the total number of bank branches and building societies that have closed between 2015 and 2018 in the United Kingdom (UK), by region. During this time period the North West of England saw the highest number of bank closures with a total of ***. This was followed by Scotland and the South East of England, which saw *** closures respectively.

This is an overview of geographical cash access coverage in the UK at the end of the second quarter (April to June) of 2023. This monitoring forms part of the FCA’s work on access to cash. Each quarter, with the Payment Systems Regulator (PSR), the FCA gathers and updates data on access to cash. This captures the locations of cash access points and other relevant information such as temporary closures, opening hours, and accessibility. This data covers brick-and-mortar, mobile bank, and building society branches, automated teller machines (ATMs), and the Post Office network. The FCA supplements this information with annual data on cashback locations. The FCA estimates that for access to larger banks and building societies providing Personal Current Accounts (PCA) and Post Office: all branches, including mobile bank branches: * 97.4% of the UK urban population are currently within 1 mile of a free-to-use cash access point offering deposits * 98.2% of the UK rural population are currently within 3 miles of a free-to-use cash access point offering deposits We estimate that for access to any bank, building society, Post Office branch, or any free ATM: * 99.3% of the UK urban population are currently within 1 mile of a free-to-use cash access point offering withdrawals * 98.6% of the UK rural population are currently within 3 miles of a free-to-use cash access point offering withdrawals

Banco Santander has seen the growth of its total assets more than quadruple between 2001 and 2024. During this period, total assets grew from 358 billion euros in 2001 to nearly 1.84 trillion euros in 2024. During the same period, attributable profit to the bank more than quadrupled. Employees and branches The number of bank branches for the Banco Santander Group fluctuated globally between 2012 and 2023. The Spanish bank employs 206 thousand staff and has a customer base that grew by four millions between 2022 and 2023. As of the end of 2023, there were almost 1,900 Banco Santander branches in Spain. Despite Spain having the largest number of Santander branches in Europe, the UK boasted having more customers, second only to Brazil on a global scale. Santander focuses its operations Compared to other leading European banks, the Banco Santander Group operates in far less countries globally. In 2023, the French bank BNP Paribas operated in more than four times as many countries worldwide than Banco Santander. In fact, the Spanish bank operates in less countries than any of the other top ten leading European banks.