June 13, 2018 / 1:26 PM / a year ago

Royal Bank of Canada to cut branch space by at least 20 percent

TORONTO, June 13 (Reuters) - Royal Bank of Canada said on Wednesday it plans to reduce the total square footage of its branch network by at least 20 percent over the next five years, responding to clients doing more of their banking online.

“If client behaviour does change more rapidly than we’ve seen over the last couple of years we do have the flexibility to move more quickly,” the bank’s Canadian retail head Neil McLaughlin said in a presentation to investors.

Reporting by Matt Scuffham

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