The Welsh constituency that has lost almost nine out of 10 of its banks in a decade

A Welsh constituency has lost almost nine out of ten of 10 of its bank branches in a decade.

According to figures by Which? 86% of bank branches have closed in Carmarthen East and Dinefwr. That compares with a 36% drop across Wales as a whole between 2012 and 2022.

Overall, 250 branches shut their doors across Wales during that time.

Other constituencies badly hit include Newport East which has seen an 83% drop, and Gower, Rhondda and Clwyd South which have seen an 80% drop.

Wales was however behind the south west and north west of England which had seen 40% and 38% drops in the number of bank branches.

The worst-hit area in the UK was Wentworth and Dearne, South Yorkshire, where every single bank branch has closed.

Wales now has 1.4 banks per 10,000 people, above the UK average of 1.3. But with many banks closing in rural areas it leaves some having to travel long distances for face to face banking.

The figures were published after HSBC announced this week that it had plans to axe another 69 branches across the UK as part of a push to online banking.

Those included one in Canton, Cardiff, and one in Monmouth.

HSBC’s head of UK branch network Jackie Uhi said: “The way people bank is changing – something the pandemic has accelerated.

“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.

“Rather than a one-size fits all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.”