Scottish district president Hussan Lal has warned of the “massive impact” bank closures have on small businesses.
The comment comes after bank TSB confirmed that it will close 17 branches in Scotland next year, following a review of its UK network.
Lal told Better Retailing: “Banks underestimate the impact and ripple effect closures have on businesses and communities. What banks fail to understand is Scotland is a massive country and is spread over a vast area, so to get from one place to another can take you up to 40 minutes in a car.
Post Offices struggle as bank branches close
“Therefore, remote areas will be hit massively by this news. Members of the public will go to larger towns to get their funds and will no longer spend in their local shop. Independents rely more than ever before on the local community to keep them going.”
Lal added that he will be closing his second shop in Paisley next month because it’s no longer viable to operate.
“The local housing scheme has been emptied and the impact on businesses has been massive,” he said. “Bank closures play a part in making areas viable.”
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