Challenger bank TSB is to close 25 “less well used” branches – including eight in Scotland – in a move it said reflects “evolving customer demand”.
The lender, spun off by Lloyds Banking Group and now owned by Spain’s Sabadell, also said it would create a new £2 million “flagship” branch in Aberdeen, due to open its doors on the city’s St Nicholas Street in November.
TSB insisted that there would be no compulsory redundancies as part of its branch closure plans – which will hit sites in Aberdeen, Denny, Dundee, Edinburgh and Newton Mearns – as employees will be relocated to other locations nearby, with no affected staff having to work more than ten miles from where they do now.
Jane Revell, chair of the Unite union in TSB, said: “Unite’s first priority is to protect our members’ jobs. Following discussion with the bank we can confirm there are no job losses, changes to working patterns or hours as part of these branch closures.”
Last year, TSB said it would be embarking on a £250 million programme of investment in its branches and digital offering, and its plans will also see ten sites completely refurbished and a further 100 given a makeover.
Distribution director Peter Navin said: “Technology is increasingly popular with our customers but they are telling us that there are also times when only face-to-face contact will do. For example, when people are making a big decision, such as buying a new home, or when they need a helping hand. It’s at these times the human touch really makes a difference.
“This is why we are continuing to invest in our branch network as well as our digital offering and we’re excited to be opening new flagship branches in Aberdeen and Birmingham later this year.”
The Aberdeen and Birmingham flagships will be TSB’s first purpose-built branches.
FULL LIST OF TSB BRANCH CLOSURES
Aberdeen: 46 Castle Street, 33 Queens Road, 19 Union Terrace – closing in December
Denny: 33 Church Walk – closing in July
Dundee: 96 Albert Street – closing in November
Edinburgh: 19 Castle Street, 28 Niddrie Mains Road – closing in November
Newton Mearns: 238 Ayr Road – closing in November