NatWest International has set out its two-phase plan of action for exiting the Corral Road branch as it assured that no jobs will be lost as a result of the move.
The premises are to undergo some ‘much-needed development’, becoming a new 4* hotel in the near future.
In a statement in which the bank also set out its plans for further investment in the Line Wall Road branch, NatWest International explained that following good collaboration with the developer, the bank has agreed it is the right time to plan to exit this building.
They will be closing Corral Road in two phases; in June, the bank will move its customer service unit to Line Wall Road, meaning Corral Road will become a cash and services centre only from this time.
Then, at the end of the year, they will close this branch completely.
A spokesman for the bank confirmed that the move will not lead to any job losses with all Corral Road branch staff moving to Line Wall Road premises.
NatWest International added that it reviews its branch network regularly and the decision to close a branch is made on a case-by-case basis, based on branch usage and the changing banking habits of its customers.
In this instance, the bank has decided to invest £1.1million in its Line Wall Road branch in order to create a much better experience for customers.
“Closing a branch is a difficult decision and one that is not taken lightly,” the bank said adding: “Customers will be made aware of the closure with information provided in the branches.”
There are a number of different ways customers can continue to bank with NatWest International; at the Line Wall Road branch, online and through the mobile app.
The bank is happy to discuss customer concerns in branch and explore the alternative options available.
NatWest International is sensitive to the impact this will have within the local community of Gibraltar and will continue to serve its customers at the soon-to-be refurbished NatWest International Line Wall Road branch.
David Bruce, Country Head commented: “Our colleagues in the Corral Road branch will be redeployed to Line Wall Road to help continue to support our many customers in Gibraltar.”
“Whilst we are sorry to be leaving our Corral Road site after many years we are delighted to be investing in our Line Wall Road branch and modernising our banking operations to serve our customers in the years ahead.”