Local councillors to use RBS share purchases to take branch closure opposition to AGM

North-east councillors say they plan to buy shares in Royal Bank of Scotland in order to attend the financial giant’s AGM and directly question its chief executive over plans to close two local branches as their campaign to save them heats up.

Banff and District SNP councillor Glen Reynolds is battling to save the RBS branch in Banff, which is due to close its doors in May, and will be followed a few weeks later by the bank’s Turriff outlet.

He is supported in his plans by Turriff and District councillor Alastair Forsyth, who used to work as a consultant at RBS and is backing a petition raised by campaigners in each town to save the branches.

The lender has blamed a drop in customers visiting the two branches and an increase in people using online banking over the last few years for its closure plan.

A spokeswoman said the bailed-out bank had taken the decision to close its doors in Banff and Turriff after an extensive review and careful consideration of local factors.

However, Mr Reynolds says councillors now hope to purchase shares so they can attend the annual general meeting at the still 73 per cent state-owned bank’s Edinburgh headquarters later this year.

It would allow them to question CEO Ross McEwan and other board members directly about the proposals to mothball the facilities.

Speaking to the local Press & Journal newspaper, Mr Reynolds said the move was aimed at making sure the views of people affected by the closures were heard.

He said: “I and colleagues that represent areas affected by the planned closures will aim to attend the RBS AGM in Edinburgh in May, by purchasing shares as necessary, and thereby to ask questions of the board.”