New banking centres combining business, private banking and wealth management, as well as continued job cuts are expected through 2005 as a result of National Australia Bank's (NABs) continuing restructuring of its UK businesses.
Included in this are Yorkshire and Clydesdale bank branches, some 40 of which will be converted to Financial Solutions Centres in the North as part of the plan to realise annual savings of £117m. Fifteen centres have been opened in the Southeast already, with a further 15 planned to open by the end of 2005. Their focus will be small to medium-sized business customers. NAB’s changes will also see the establishment of 50 “flagship” high street bank branches , which will also offer banking to the “micro-business” sector of the market. Product ranges are to be simplified and mortgage pr...
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