Monday, November 5, 2018

News: RBS withdrawal this week

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The Royal Bank of Scotland Group (RBS) is closing its Rotherham town centre branch this week.

Rothbiz reported earlier this year that the High Street branch was one of 162 branch closures announced by the taxpayer-backed group having decided that NatWest should become its primary customer facing brand in England and Wales and Royal Bank of Scotland its core brand in Scotland.

The group, which has also closed its Wickersley branch and is closing its Swallownest branch in January, has stated that the town centre branch on the High Street will close on November 7.

Customers will be able to use NatWest branches and local post offices for their everyday banking needs.

Analysis by RBS showed that since 2012, the Rotherham branch has seen counter transactions reduce by 47%. It adds that only 62 customers are using the branch on a regular basis and that a total of 5,153 customers visited the branch in six months to October 2.

RBS in England & Wales and NatWest retail banking business in Scotland was due to be divested and relaunched as a separate "challenger bank", under the brand name, Williams & Glyn, but the plans were shelved.

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A key building at the foot of Rotherham High Street, the Rotherham branch has its history in the Sheffield & Rotherham Joint Stock Banking Co Ltd which was a past constituent of RBS. The bank was established in 1792 by famous Rotherham steelmakers, the Walker brothers; along with Vincent Eyre, agent of the Duke of Norfolk (the principal landowner in the area); and William Stanley, a local businessman described as a "gentleman well-known and much respected at Rotherham."

The bank renamed Walkers & Stanley in 1829 and in 1836 the business was sold for £27,000 to a new joint-stock company, Sheffield & Rotherham Joint Stock Banking Co. The bank grew rapidly but the business was not without problems. Major accounting deficiencies were discovered during the 1840s and bad debts soared during the local commercial depression of the late 1870s.

In 1907, with a paid-up capital of £256,000, the bank was acquired by Williams Deacon's Bank Ltd of London and Manchester. This was later acquired by RBS and amalgamated with other acquired networks to form Williams & Glyn's Bank in 1970.

The Grade II listed building was built in 1892 possibly on the site of the "OLD BANK / FOUNDED 1792" as the sign above the doorway reads. The impressive building is notable for its polished granite columns.

A planning applications has already been approved to decommission the branch, following its closure. The plans stated: "The proposals are necessary to ensure that the building presents an attractive proposition for re-use by an alternate occupier (subject to the necessary consents). The removal of these items aims to ensure that the building is increasingly viable and thus aim to reduce the amount of time that the building is vacant."

RBS website

Images: Styles & Wood

4 comments:

Anonymous,  November 5, 2018 at 11:44 AM  

Can only see this building been used as a pub/bar possible restaurant,such a grand building can hardly be a pound shop!

Rod Laughton November 5, 2018 at 3:34 PM  

NatWest should move here from its pathetic, inadequate, nearby branch!

Unknown November 5, 2018 at 6:41 PM  

Thinking about moving to the Yorkshire bank,had enough of RBS.

Anonymous,  November 5, 2018 at 7:42 PM  

Natwest are closing branches too,no way theyd mover here.

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