MP urges bank closure protest

A total of 20 branches in England and Scotland will close

Small shareholders in Northern Rock are being urged to protest against the bank's decision to close 20 branches.

Fifteen of the threatened branches are in the North East and Cumbria.

The MP for Berwick, Alan Beith, urged small shareholders to attend the bank's Annual General Meeting (AGM) and make life difficult for the board directors.

Two branches in his constituency are to close and Mr Beith has claimed his constituents will experience considerable inconvenience.

But Northern Rock said the smaller branches do not make the required contribution to its mortgage, personal credit and savings markets.

New jobs

And it claims 80% of savers hit by the closures will be able to find another branch within five miles.

About 150 jobs will be affected by the closures, but Northern Rock said those workers would be offered new jobs at its offices in Gosforth, Newcastle, and Doxford Park, in Sunderland.

Fourteen branches will close in Northumberland and Newcastle, and one each in Stirling, Falkirk, Romford, Ilford, Manchester and Workington.

Northern Rock's Annual General Meeting will be held in Newcastle at the end of April next year.