The Clydesdale Bank is set to quit the island.
The doors of its Rothesay branch will close in the next few months, according to banking union Unite.
It forms part of a devastating list of closures as the Clydesdale and Yorkshire banking group looks at shutting 79 branches with the loss of 400 jobs.
It has been described as the largest-ever closure plan by the bank.
The union highlighted its concerns for the impact on local communities and customers – as well as staff.
Rob MacGregor, Unite national officer, said: “Staff will be devastated to learn that 79 branches will close and consequently over 400 colleagues will lose their jobs.
“We are clear that the closure of a third of the bank’s branches will not only be concerning for staff but the local communities which will see their bank branch close. This cost-cutting plan leaves customers with less choice for local banking.’’
United called on the banks to ‘‘give a commitment to mitigate compulsory redundancies where possible’’ and also reconsider closing any bank branches that are the last bank in a town.
Clydesdale said the move had been prompted by the trend towards electronic banking.
A statement from the bank said: “The bank continues to reshape its service offering in response to these changing needs.
“To support this transformation the bank is committing £350m over the next two years, embracing digital innovation while continuing to invest in a more sustainable branch network to deliver a superior customer experience.
“The bank’s first priority is to our customers and we will be working extensively with impacted customers, local communities and relevant stakeholders to ensure that the transition to their new branch is as smooth and as sensitive as possible, particularly where vulnerable customers are concerned.
“It is also the bank’s intention to try to find roles for frontline branch staff either within other branches or elsewhere in the Bank, wherever possible.”
>> Unite’s published list of the Clydesdale branches expected to close: Aberdeen Riverside, Aberlour, Aboyne, Alloa, Banff, Bathgate, Bearsden, Beith, Bellshill, Brechin, Buckie, Cambuslang, Castle Douglas, Cumnock, Dalkeith, Dunoon, East Kilbride Stuart Street, Edinburgh Leith Walk, Edinburgh University, Forfar, Fraserburgh, Giffnock, Glasgow Aikenhead Road, Glasgow Bath Street, Glasgow Charing Cross, Grangemouth, Johnstone, Leith, Leven, Mintlaw, Renfrew, Rosyth, Rothesay, Saltcoats, South Queensferry, Stonehaven, Stranraer, Thurso, Tillicoultry and Troon.