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World’s local bank closing local branch

Created on 31/08/2011 @ 16:06
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Llanrhaeadr has begun its fight to keep its local HSBC which is ‘one of the lowest performing branches’ in the UK, according to the banking giant.
The bank has announced it will close in the near future, despite not carrying out a local impact assessment, although it is looking at absorbing some services, such as an ATM, into other local businesses.
Liberal Democrat AM William Powell has met with campaigners and bank officials in a bid to save the bank and believes HSBC is contradicting its own global marketing slogan as the ‘world’s local bank’.
Mr Powell said: “I was very disappointed to be told that HSBC is determined to close down the branch. The HSBC representative told me that the decision had been made because the Llanrhaeadr branch is ‘one of the lowest performing branches’ in the whole of the UK for HSBC. 
“I was even more disappointed to be told that there was no form of community impact assessment carried out whatsoever, and that all such decisions are made on a purely commercial basis. This seems to me to be very much at odds with HSBC’s own marketing slogan.
“Banking services in small rural communities are absolutely vital to their local economies.  UK banks need to develop a policy specific to rural areas, rather than just adopting a one size fits all approach.
“There is, however, some hope for maintaining some banking services in Llanrhaeadr-ym-Mochnant.  HSBC have said that they are committed to maintaining a cashpoint in the village.  I have been in regular communication with HSBC throughout August to ensure that they meet this commitment. 
“Currently HSBC is negotiating with local businesses to try to install a cashpoint inside an existing business premises.
Picture: Gwyn Buckley - Chair of the Community Council, County Councillor Aled Davies, Pat Jones - Clerk of the Community Council, and William Powell AM.
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