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25

Aug 2020

Last Updated: 25/08/2020
Business
Business

Central Harrogate bank to close by December

by Vicky Carr

| 25 Aug, 2020
Comment

0

The Cooperative Bank says footfall in 2019 was low in the Harrogate branch and it has to make cuts in order to face the current challenging economic climate.

coop-bank-harrogate-1

The Co-operative Bank in central Harrogate will close before the end of the year as a result of national cuts.

The Prospect Crescent bank is one of 18 branches to be closed by the Cooperative, with 350 jobs set to be lost as a result.

The bank said the decision was made based on footfall during 2019 and was unrelated to the coronavirus lockdown.

Co-operative Bank chief executive Andrew Bester said:

“Our people have shown great dedication and commitment to our customers over the past few months, so we are very sorry to announce this news today.
"Unfortunately, we’re not immune to the impact of recent events, with the historically low base rate affecting the income of all banks and a period of prolonged economic uncertainty ahead, which means it’s important we reduce costs and have the right-sized operating model in place for the future.
“At the same time, we are responding to the continuing shift of more and more customers choosing to bank online, with lower levels of transactions in branches, a trend which has been increasing for some time, across the banking sector and more broadly.
"The bank is in a resilient position given the significant progress we’ve made in recent years, and our focus is on maintaining this as we continue to support our customers through the crisis. We will do all we can to support colleagues through the process with fairness and respect.”


The branch closure will be completed by December 1 and customers who are affected will be contacted directly by the bank with information about alternative options.



Read more:



  • Knaresborough's only bank to remain open for time being

  • Plan for a home at former Knaresborough high street bank