UK-based Co-operative Bank is planning to shut 57 branches in 2015 following the closure of 72 sites last year, in a bid to cut costs.
The additional closures will leave the bank with 165 branches, a 44% decline over two years.
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Shutting further 57 branches of the bank, which has seen a 4% drop in its total number of current accounts, will help the bank to lower its direct retail costs.
Co-operative Bank CEO Niall Brooker said: "Over time it seems likely the branch network will reduce in line with customers’ increased use of digital channels."
The bank has reported pre-tax losses of £264m that has improved from its previous year’s losses of £632.8m.
Brooker added: "Over the course of 2014 the management team has continued to take significant steps to implement the strategy and to turn the bank around. The Co-operative Bank is stronger than a year ago and we end the year with a strengthened capital position.
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By GlobalData"However, we are in the early stages of the turnaround and there is still much to do to transform the organisation into a sustainable business."
