The Banking Standards Board (BSB) has spoken out to say that small businesses suffer the most from the closure of bank branches and that British banks need to work together to mitigate the effects,

Reuters reports. Alison Cottrell, chief executive of the BSB, said that a ‘space’ for banks to collaborate and discuss branch sharing may be necessary to protect communities from increasing isolation.

UK Finance, the body that represents banks, said branch closures were never taken lightly and that banking services had been made available in 11,500 post offices across the UK.

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