Plans to establish a community bank across Wales looks set to be accelerated.

As traditional High Street banks continue to retreat from Wales' high Streets, not least in the constituency of Clywd South, Ken Skates MS has welcomed the planned roll-out.

Welsh Labour’s manifesto for Senedd election earlier this year included a commitment to creating a Community Bank for Wales, supporting its growth so it can open an initial 30 branches over the next decade.

Economy Minister Vaughan Gething has confirmed that Monmouthshire Building Society, working with the Welsh Government and Cambria Cydfuddiannol Ltd (CCL), will deliver Banc Cambria – which will aim to provide everyday full retail banking services in communities by 2023.

Mr Skates, whose constituency is the worst-affected in North Wales, launched the plans for the Community Bank during his time as Economy Minister.

He said: “Over the last few years, we’ve all seen the big banks leave our local communities and high streets, leaving many people without access to accessible banking services. Clwyd South has seen 80% of its high street banks close since 2015 – more than any other area of North Wales – and now has just one surviving branch.

“I raised this issue in the Senedd earlier this year and was pleased to welcome Banc Cambria's project lead Mark Hooper to Clwyd South last month. I'm delighted that the plans are progressing at pace.

"Unlike other banks, this will be owned and controlled by members – not outside shareholders. Communities across North Wales have been abandoned by their banks and the UK Government's scrapping of its agreement with the sector that the last branch in each community should remain open. We desperately need this.

"Banc Cambria cannot replace the increasing number of branches closed, but will focus on communities that have lost provision. I will continue to make the case for Clwyd South. I hope this will provide a positive impact on our communities and high streets and improve access to financial help and support in locations that are convenient for the people of Clwyd South."

Banc Cambria aims to provide full everyday banking services for individuals and small businesses, accessible by telephone, online and face-to-face. It hopes to have a customer launch during 2023.