Banks: Closures

Treasury written question – answered on 16th June 2009.

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Photo of David Evennett David Evennett Shadow Minister (Business, Innovation and Skills)

To ask the Chancellor of the Exchequer how many bank branches have been closed in the last six months by banks in which the Government have purchased a shareholding in the last two years.

Photo of Kitty Ussher Kitty Ussher Parliamentary Secretary, HM Treasury

The Government's shareholdings in the Royal Bank of Scotland (RBS) and Lloyds Banking Group (Lloyds) are managed by UK Financial Investments Ltd (UKFI), and for Northern Rock and Bradford and Bingley they are currently managed by the Treasury. All shareholdings in these banks are managed on a commercial basis. The closure of branches is an operational decision for the board of each bank.

It is a matter for each bank to disclose this information.

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Mike Carver
Posted on 17 Jun 2009 3:59 pm (Report this annotation)

Another non-answer. Our totally useless government use our money to bail out the banks and still don't keep an eye on their activities.