LONDON: British state-owned Royal Bank of Scotland (RBS) said on Friday it will close 259 branches and cut 680 jobs as it reduces costs and encourages customers to use online and mobile services.
The latest round of closures at the Edinburgh-based bank follow 180 announced in March, putting 1,000 jobs at risk, and a similar move by Lloyds Banking Group which said on Wednesday it would close 49 branches.
British banks are set to close a record 762 branches this year, Reuters reported in August, drawing criticism for depriving customers of access to in-person services, particularly in poorer parts of the country.
Jane Howard, RBS’s managing director of branch banking, told Reuters by telephone that customers are increasingly using mobile and online channels rather than bricks-and-mortar branches, and RBS had to react to that.
“There will be some customers that will be really disappointed we are closing branches… and I understand why. But it’s important that we do respond.”
RBS is investing in its remaining branches and its digital offering, Howard said, adding: “Given what we know, we’ve got the right shape of network.”
The latest closures will affect the bank’s RBS and Natwest brands in England, Wales and Scotland, leaving it with around 744 branches.
Low interest rates and increasing competition from startup banks have eaten into profits for many of Britain’s banks, prompting them to cut costs and RBS Chief Executive Ross McEwan has slashed thousands of jobs.
The bank reported a better-than-expected operating profit for the third quarter of this year after keeping expenses under control and avoiding any misconduct charges, which, along with restructuring costs, have dogged the bank’s return to profitability since the financial crisis.
RBS hopes to post its first profit since 2007 in 2018, but that depends on when it reaches a multi-billion pound settlement with the United States Department of Justice over the mis-selling of toxic mortgage-backed securities in the US
It finalized the closure of its ‘bad bank’, set up to sell unwanted assets nearly a decade after it was rescued in a £45 billion bailout, on Thursday and this month the British government said it plans to start selling £15 billion of shares in RBS next year.
RBS axes further 259 British branches as lender expands e-banking
RBS axes further 259 British branches as lender expands e-banking
Stars and royals gather for the BAFTA film awards, with ‘One Battle’ and ‘Sinners’ leading the race
LONDON: Hollywood stars and British celebrities, from Paddington Bear to the Princess of Wales, gathered Sunday for the British Academy Film Awards, where politically charged thriller “One Battle After Another” and blues-steeped epic “Sinners” led the field of nominees.
The two films snagged early prizes, with Wunmi Mosaku taking the supporting actress award for “Sinners,” and Sean Penn winning the supporting actor trophy for “One Battle After Another.”
Oddsmakers suggest Shakespearean family tragedy “Hamnet” could beat the front-runners to best picture if British film industry voters respond to the emotionally rich story, earthy English setting and intense performances in Chloé Zhao’s adaptation of Maggie O’Farrell’s historical novel.
Stars including Leonardo DiCaprio, Timothée Chalamet, Emma Stone, Cillian Murphy, Glenn Close and Ethan Hawke were among those walking the red carpet outside London’s Royal Festival Hall before a black-tie ceremony hosted by Scottish actor Alan Cumming.
Prince William and Catherine, Princess of Wales also attended, three days after William’s uncle Andrew Mountbatten-Windsor was arrested by police and held for 11 hours over allegations he sent sensitive government information to the late financier and sex offender Jeffrey Epstein.
The scandal has rocked the royal family led by King Charles III, though William and Kate remain popular standard-bearers for the monarchy. William is due to present an award in his role as president of the British Academy of Film and Television Arts.
Among the biggest receptions from gathered fans was for Paddington, the puppet bear who stars in a musical stage adaption of the beloved children’s classic.
Oscars bellwether
“One Battle” has 14 nominations, including best picture and acting nods for five of its cast. “Sinners” is just behind with 13, while “Hamnet” and the ping-pong odyssey “Marty Supreme” each have 11 nominations.
Guillermo del Toro’s reimagining of “Frankenstein” and Norwegian family drama ” Sentimental Value” each got eight nominations.
The British prizes, officially called the EE BAFTA Film Awards, often provide hints about who will win at Hollywood’s Academy Awards, held this year on March 15. In the Oscar nominations, “Sinners” leads the race with a record 16 nominations, followed by “One Battle After Another” with 13.
Cumming told the audience that it had been a strong year for cinema, if not a cheerful one, with nominated films tackling themes including child death, racism and political violence:
“Watching the films this year was like taking part in a collective nervous breakdown,” he said. “It’s almost as though there are events going on in the real world that are influencing filmmakers.”
The BAFTA best film nominees are “One Battle After Another,” “Hamnet,” “Marty Supreme,” “Sinners” and “Sentimental Value.” The BAFTAs also have a distinctly British accent, with a separate category for best British film. Its 10 nominees include “The Ballad of Wallis Island,” “Pillion,” “I Swear” and “Bridget Jones: Mad About the Boy.”
Directing contenders are Paul Thomas Anderson for “One Battle,” Josh Safdie for “Marty Supreme,” Ryan Coogler for “Sinners,” Yorgos Lanthimos for dystopian tragicomedy “Bugonia,” Joachim Trier for “Sentimental Value” and Zhao for “Hamnet.” Zhao will be the first female director to win two BAFTAs if she takes the prize. She won the directing award in 2021 for “Nomadland.”
Best leading actor nominees are bookies’ favorite Chalamet for “Marty Supreme,” DiCaprio for “One Battle After Another,” Ethan Hawke for Broadway biopic “Blue Moon,” Michael B. Jordan for “Sinners,” Jesse Plemons for “Bugonia” and Robert Aramayo for playing an advocate for people with Tourette’s syndrome in biographical drama “I Swear.”
The leading actress category includes the strongly favored Jessie Buckley for her performance as Agnes Hathaway, wife of William Shakespeare, in “Hamnet.” She’s up against Rose Byrne for “If I Had Legs I’d Kick You,” Kate Hudson for “Song Sung Blue,” Chase Infiniti for “One Battle After Another,” Renate Reinsve for “Sentimental Value” and Emma Stone for “Bugonia.”
“One Battle” actors Teyana Taylor, Benicio del Toro and Sean Penn are all nominated for supporting performances.
AP gets documentary nod
The Associated Press was recognized in the best documentary category with a nomination for Mstyslav Chernov’s harrowing Ukraine war portrait “2000 Meters to Andriivka, ” co-produced by the AP and Frontline PBS.
Most BAFTA winners are chosen by 8,500 members of the UK academy of industry professionals. Contenders for the Rising Star award — the only prize decided by public vote and a reliable picker of future A-listers — are Infiniti, Aramayo, “Sinners” star Miles Caton and British actors Archie Madekwe and Posy Sterling.
Donna Langley, the UK-born chairwoman of NBCUniversal Entertainment, will be awarded the British Academy’s highest honor, the BAFTA fellowship.
The ceremony airs on BBC in the United Kingdom starting at 7 p.m. (1900 GMT) and on E! in the US at 8 p.m. EST.
