The owner of Clydesdale and Yorkshire banks is shutting 50 branches as it ramps up cost-cutting efforts. Branch numbers are to fall from 248 to below 200 over the next three years as Clydesdale and Yorkshire banking group (CYBG) looks to save £100m.
The Glasgow-based group did not give any details on jobs in the latest announcement.
It comes after CYBG announced earlier this year that it was shutting 26 branches by the end of September.
The group has axed nearly 500 jobs over the past 18 months.
CYBG, which was spun off by former owner National Australia Bank in February, is aiming to meet performance targets earlier than planned.
Its “refreshed” strategy, set out in an investor presentation, takes into account “revised expectations for the UK economy” with the Brexit vote predicted to slow growth.
The group is also spending more than £350m over the next two years on an overhaul designed to improve its online banking offering, and technology.
Chief executive David Duffy said: “Delivering our strategy will provide an improved branch experience, supported by a strong digital offering, reflecting the new face of banking and putting customers at the heart of what we do.”
The group has already cut branch numbers by a quarter since 2013.
Staff numbers have fallen to around 6,500 from just over 7,000 in March last year.