BBA: branch closures reflect demographic shift

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BBA: branch closures reflect demographic shift

Thu 16th Aug 2007

The reason why many traditional high street bank branches are closing is down to demographics, according to the British Bankers' Association (BBA).

A spokesperson for the association said that many branches were built in Victorian times, when people used to work close to where they live.

However, in the age of commuting to work, there is no longer the same requirement for the local branch, she said.

"It reflects demographic shift," she claimed.

"It reflects the demographic move and the fact that people generally will bank closer to where they work rather than closer to where they live."

Earlier this month, Locallife.com revealed that the number of bank and building society branches has fallen by 11 per cent in the past five years.

The BBA is the principal trade association in the UK banking industry and has 218 members.

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