Challenger bank to close 25 branches

Challenger bank to close 25 branches




TSB has revealed it will be closing 25 branches as part of its £250m investment to modernise its outlets.

The £250m investment programme will ensure its branch and digital offering will meet customer demands as it will also refurbish and refit a further 110 branches.

TSB will close 25 of the less well used branches by the end of April 2017 after the bank found that in 13 towns and cities where it had multiple branches in close proximity, customers showed a clear preference for one branch over another.

The bank also revealed its first two new branches in Birmingham and Aberdeen, which will be purpose-built sites designed in response to customer feedback.

All upgraded branches will offer better technology, more facilities, improved services, more self-service facilities and more TSB partners on hand to help customers.

"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,” Peter Navin, Distribution Director at TSB, stated.

“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 [that] the human touch really makes a difference.”

Peter added that this was the reason why it was continuing to invest in its branch network as well as its digital offering.

“We’re excited to be opening new flagship branches in Aberdeen and Birmingham later this year.

"We’ve made a commitment to our customers to keep delivering the type of banking they want and deserve; a key part of that is having the right branches in the right places."

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