RBS to cut 680 jobs

RBS has revealed it is to close 259 branches and axe 680 jobs in a move it says will cut costs and encourages customers to use online and mobile services.

The move means 62 Royal Bank of Scotland and 197 NatWest branches will close

RBS said it would try to ensure compulsory redundancies were “kept to an absolute minimum”.

The bank said: “We realise this is difficult news for our colleagues and we are doing everything we can to support those affected.”

An RBS spokesperson told the BBC: “More and more of our customers are choosing to do their everyday banking online or on mobile.

“Since 2014 the number of customers using our branches across the UK has fallen by 40% and mobile transactions have increased by 73% over the same period. Over five million customers now use our mobile banking app and one in five only bank with us digitally.”