Last week (Wednesday 10th February), Russell George, Assembly Member for Montgomeryshire, supported a cross party motion which deplored the number of bank branch closures in Wales, and called upon the banks to consider the impact of bank branch closures on individuals, especially older people and small businesses before final decisions on closures are made.
HSBC has recently closed two of its branches in Llanfyllin and Llanfair Caereinion. This disappointing news follows a series of other bank closures across North Powys. Royal Bank of Scotland Group (which includes NatWest) has closed branches in Montgomery, Llanidloes and Llanfair Caereinion and HSBC have closed other branches in Llanidloes and Machynlleth. Barclays have also recently reduced their opening hours in Llanidloes.
Russell George, AM for Montgomeryshire, said:
"The closure of banks in rural Mid Wales is having a devastating effect on our rural villages and town centres.
"I have recently received hundreds of responses to my recent campaign to save HSBC branches in Llanfyllin and Llanfair Caereinion, showing just how important the retention of local bank branches are for our high streets if they are to continue to flourish; not just for ordinary customers but particularly for local businesses which require a daily “over-the-counter service”.
“Unfortunately, this campaign was to no avail and I am calling on banks to consider the wider social and economic consequences of closing bank branches, especially when they are the only remaining bank in the area.