Nationwide Building Society has issued a new update on the state of its bank branches, once again reassuring customers they will remain open. The UK high street has seen increased closures in recent years, with at least 228 bank branches scheduled for closure in 2026.
These include 87 from Lloyds, 43 from Halifax, 40 from Santander, 30 from NatWest, and 28 from Bank of Scotland. However, Nationwide Building Society has committed to keeping their brick-and-mortar locations open, with the chain currently operating 696 branches.
The lender operates 605 Nationwide branches alongside 91 Virgin Money branches following its takeover of the bank. Nationwide has pledged to keep these open until at least 2030.
Chief Executive Comments on Branch Strategy
Nationwide chief executive Dame Debbie Crosbie said: “I suppose, in some regards, I'm not surprised that there's a lot of our competitors thinking very carefully about strategy. We see huge success in our branch network and continue to see it, so perhaps the tide is turning, and we will certainly continue to invest in our branches.”
She added: “What we are finding is that more and more people really value face-to-face, human contact, particularly for areas like fraud, bereavement and power of attorney.”
Government Launches Access to Banking Review
The Labour Party government has now announced a probe into the recent wave of bank branch closures across the country. The Access to Banking Review is being headed up by the Treasury, alongside former Which? director and City watchdog board member Richard Lloyd.
Lucy Rigby, Economic Secretary to the Treasury, who commissioned the review, said: “Banking services are a really important part of lives and communities, and it’s critical we can all access what we need – whether through local banking services or strong community-based alternatives like credit unions. We are supporting industry’s roll out of banking hubs, but we also need a clear picture of where communities are still losing out. This independent Review will show us where the problems are and what further action may be required – and we will move quickly to legislate where the evidence shows it is needed.”
