Bank branch black spots in England’s most deprived areas

PA Media reports on new research published by banking app Pockit, which found that banks are closing branches in poorer areas of England at a faster rate than in wealthier areas

It found that, on average, the most deprived 10% of local authorities have seen a decline of nearly a third (31%) of existing branches since 2010 – whereas the least deprived 10% have seen a fall of just over a fifth (22%).

High street banks have closed 990 branches in the most deprived areas of England since 2010 – more than four times the 230 closed in the least deprived local authority areas.

There is a double impact for the rural deprived areas of England where bank closures often lead to a community which has no access to cash with the nearest available bank branch often many miles away.  A perfect storm is being created when bank closures and an ever reducing public transport provision are taken into account in rural areas.

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? Yahoo Finance - Bank branch black spots ‘being created in England’s most deprived areas’


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