Why do banks close branches when they’re making so much money?

It’s the trust and reassurance that physical banking and engagement bring that I desire, argues Chris Blackhurst

We’ve reached a stage where closures are no longer even trailed (AFP/Getty)

Banks continue to generate hefty profits, as the current slew of results shows. Yet, at the same time, they carry on shutting branches.

It’s this paradox that so infuriates people. Why, if they make so much money, do they close the branch, the one I’ve been going to all my life?

That’s a common refrain, but one that’s increasingly in a minority. Footfall at bank branches is declining. Nevertheless, what the banks are failing to acknowledge, and are seemingly not prepared to finance, is that for those customers who do use them they provide a cherished, invaluable service.