NatWest boss is urged to meet community and business leaders in Peterborough to explain bank closures

The chief executive of NatWest is being urged to meet civic and business leaders in Peterborough to explain how the bank can continue to provide services in the city.

The appeal has come from Peterborough MP Paul Bristow who has warned that is not prepared to accept lazy assumptions to justify the recently announced closure of the NatWest branch in Lincoln Road.

Now he has written to Alison Rose, chief executive of NatWest, in a bid to set up a meeting to look at ways of keeping the branch.

He also wants her to meet community and business leaders to outline how banking services can still be provided from the Lincoln Road premises.

Mr Bristow states that he wants Ms Rose to give assurances that the closure is not a done deal and that the NatWest is keen to play a role in ‘a community that relies so heavily on in person banking services.’

He adds: “I am not prepared to have lazy assumptions about the Covid-19 pandemic and increased use of online platforms to have this impact on the most disadvantaged in my constituency.”

The NatWest announced last month that it planned to close its branch in Lincoln Road on July 26.

In a statement, the bank blamed a falling number of people using the branch for its pending closure with transactions falling by 73 percent between January 2019 and 2022, with just two personal customers using the branch on a regular basis in 2021.

But in his letter to Ms Rose, Mr Bristow states: “The closure of this branch will have a detrimental impact on local businesses, residents who live nearby, and the character of this part of Peterborough.

“This is a short-sighted move.

He states: “The letter I have received informs that the way people use banks has changed dramatically in recent years and that more people are using online services.

"However, this part of Peterborough has already seen two other bank branches close, and a large number of the businesses in the local area rely on and use cash extensively.

"I personally find it difficult to believe that this has not increased your custom and that the branch is not well used by local businesses.

“The character and the demography of the Millfield area also means that a large number of local residents may be digitally excluded. Many have English as a second language so may not find digital services easy to access.

"Moreover, there remains an elderly population that may prefer to use in person services at a bank branch.

And Mr Bristow adds: “Will you meet with me to discuss how we can retain this vital community facility?

"Will you commit to talking with local community leaders and businesses about how a banking service can still be provided from these premises?

"Will you make clear that this is not a done deal and that you are willing to play your role in a community that relies so heavily on in person banking services.