Monday, June 20, 2016

These folks need banker bot

Reuters: Britain's largest banks are disproportionately closing branches in the lowest-income areas while expanding in wealthier ones, taking bricks-and-mortar services away from communities where they are arguably needed most, an analysis by Reuters shows.  
 HSBC (HSBA.L), Royal Bank of Scotland (RBS.L), Barclays (BARC.L) and Lloyds Banking Group (LLOY.L) are among banks that have cut 600 branches from April 2015 to April 2016. 
 More than 90 percent of the closures were in areas where the median household income is below the British average of 27,600 pounds ($39,042), according to an analysis of Office for National Statistics data on average incomes in the locations where branches were closed. By comparison, five out of the eight branches opened by these banks over the same period were in some of the wealthiest neighborhoods in Britain -- Chelsea, Canary Wharf, St Paul's, Marylebone and Clapham, all in the capital, London.

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