Scotland business

TSB announces plans to close 25 branches

TSB branch Image copyright TSB

The TSB bank has announced plans to close 25 branches, eight of them in Scotland.

TSB, owned by Spanish lender Sabadell, said it was investing millions of pounds on upgrading remaining branches and on digital services.

Areas affected in Scotland include Aberdeen, Dundee, Denny, Edinburgh and East Renfrewshire.

Staff at the affected branches will be transferred, and the bank said there would be no compulsory redundancies.

TSB's plans include creating new flagship branches, the first of which will be in Birmingham and Aberdeen. Both are expected to open their doors to customers before the end of this year.

However, three branches in Aberdeen are expected to close in December.

Two Edinburgh branches are due to close in November but two others in the capital will be refitted.

The other closures are in Dundee, Denny near Falkirk, and Newton Mearns in East Renfrewshire. The TSB branch in Clarkston is due to be refitted.

'Evolving demand'

In a statement, the bank said its ongoing £250m investment programme was designed to "ensure its branch and digital offerings meet evolving customer demand".

It added: "As part of TSB's ongoing strategy to ensure it has the right branches in the right places, TSB is fully refurbishing 10 branches and refitting around 100 others to upgrade and modernise its network.

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

"There are 13 towns and cities where TSB has multiple branches in close proximity and customers are showing a clear preference for one branch above another.

"As a result the bank will close 25 of the less well used outlets by the end of April 2017 and invest in the busier ones.

"This investment is part of TSB's ongoing commitment to providing a strong branch network."

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