7. What progress has the Welsh Government made regarding plans for a community bank of Wales? OQ56668

8. Will the Minister make statement on the progress being made to open a community bank in Wales? OQ56671

Llywydd, I understand that you have given permission to group questions 7 and 8. The private sector proposal to establish the community bank for Wales is contingent on regulatory approval. Operational delivery plans continue to develop in parallel with regulatory assessments and wider Welsh Government evaluation, in order that Banc Cambria can be established at the earliest opportunity post regulatory approval and investment decisions.

Thank you, Minister. I am delighted that this question is being grouped with Jack Sargeant's as well, given that Jack has been such a strong supporter of a community bank. A recent report in the Flintshire and Wrexham Leader highlighted the alarming loss of bank branches in north Wales. Data published by the paper show that Clwyd South is the worst affected constituency in north Wales. Minister, are you able to outline how my constituents will benefit from the creation of a community bank following the loss of all but one bank in Clwyd South?

I'm very glad that Jack Sargeant has also raised this question this afternoon. At the end of 2021, there will be just one bank left serving the people of Clwyd South. The area has lost 80 per cent of its banks since 2015. It puts residents at risk, travelling out of town. The Barclays branch in Llangollen is the only physical bank branch left in the constituency.

The community bank, just to say for Members, is a benefit, and I think that this is well supported across this Chamber. It's going to be a mutual owned by, and run for the benefit of, its members. It will improve access to banking services and access to cash, with multichannel bilingual banking services for people and businesses. It will also be collaborating with the Welsh financial ecosystem, for example credit unions, and will create direct jobs as well. No community banks operate in the UK, but we will be the first community bank to operate. Banc Cambria aims to provide everyday retail banking across the whole of Wales.   

Diolch yn fawr, Llywydd. Could I just start by thanking the Member for Clwyd South for his kind words—Ken Skates—and also for his work as a Minister to date on the community bank, and the Minister who is responsible now, Jane Hutt, for her commitment to date? Minister, as you have know, I've long championed for a community bank in Buckley in my constituency. Can you update the Chamber on the progress being made to open Wales's first community bank branch in Buckley?

Yes. Well, thank you very much, Jack Sargeant, another champion and pioneer for the community bank bid, alongside former economy and transport Minister Ken Skates, who got this initiative under way, and it is so good that we are taking this forward. I know how hard the Member for Alyn and Deeside—and Buckley, I believe the town council have campaigned for a community bank in Buckley. So, the roll-out and timing of branches are under development by Banc Cambria, and I'm also meeting high-street banks shortly to discuss social justice issues because of the closure of bank branches across the whole of Wales, which must concern the whole of this Chamber.

Thank you for your responses so far to these points, Minister. Clearly, some communities are seeking community banks in their areas. I was wondering how you prioritise which towns and communities would have a community bank in them. 

This is the work of Banc Cambria, as they take this forward. I'm very glad that they have sought to meet Members and key people, spokespeople, across the Chamber. They're looking particularly at relationship working and partnership with credit unions, so I can give you an example in terms of Cambrian Credit Union in north Wales engaging with this. It is still a proposal; it envisages in terms of the way forward community banks across Wales, but I'm sure this is going to be as a result of not only our investment, which came formerly from Ken Skates, to conduct that feasibility, but also the prospects for where it is most appropriate and needed to have a high-street bank access point for Cambria.

With bank closures in our towns and villages across Wales being all too common, the vision presented by the team at Banc Cambria is an exciting one. For example, in my region, the constituency of Ogmore has just one bank left, and similar to what we've heard in Clwyd South as well. And, of course, in some constituencies they're at risk of disappearing altogether. The community-based model could have a wider application than just with banks, of course. Has the Minister given consideration to how we may be able to use the Banc Cambria model for other community-led businesses—in energy, for example—and what support will the Government be looking to provide? 

And I very much appreciate that this is probably a next step. As the Member said, we need to establish Banc Cambria, we need to address the paucity, the devastation in terms of lack of bank branches. But I think it could be a model, couldn't it, and we will certainly be, I'm sure, building on that with your advice and support too.

Can I first of all say this is certainly an issue that I've raised myself with successive Welsh Governments? I think I raised this first with Edwina Hart, so very supportive in terms of my position in terms of Banc Cambria and the Welsh Government's approach to community banking. I listened very carefully to the answers provided, Minister, but I think what people will want to know, especially where there are towns in Wales, in my own constituency, where there perhaps were three or four banks a few years ago and now there are none at all. I think they'll be keen to understand timescales and when we might actually see that first physical bank appear in that town again. [Interruption.] I know that past discussions—. I'm sure from past discussions—[Interruption.] Sorry; bear with me. Drew, I'm sorry—. I think, from past discussions, Minister, I think there's going to be an issue of a Banc Cambria where they've said that they're going to make a point of going into towns where there are no banks at all. So, I'd be very grateful, Minister, if you could perhaps put some timescales in terms of when we'll see that first physical bank appear in a town for the first time. 

I welcome this broad cross-party support this afternoon for the creation of a community bank for Wales. It is tightly regulated, as Members know, the banking sector, so we really have to await the satisfactory conclusion of the regulatory assessment. That's about assurance for investors and future members of Banc Cambria. But what they do—their aim is to open up in the order of 30 new outlets over the next decade.

Thank you, Minister.

And, Russell George, you managed excellently to persevere with your questioning despite the noises off on your Zoom. Well done.