The Co-operative Bank announces branch network changes
25 January 2013
John Hughes, Managing Director - Retail Banking at The Co-operative Bank, outlines planned changes to its bank branches.
"As we have previously set out The Co-operative Bank plans to increase its presence in the UK banking market to offer more customers an alternative option to the big five banks. As such, we have been expanding our branch network over recent years, through both the merger with Britannia in late 2009 and organic growth.
"Following the merger with Britannia we have continued to integrate the two businesses giving our customers more places to bank, indeed in 2011 we increased the number of branches customers could use to complete banking transactions from around 90 to over 340. We have ensured that the merger and subsequent integration of the businesses has been a staged and measured journey for our customers and staff. We are now at the final stages of this integration and have carried out a review of our branch network to ensure that it meets the needs of our customers and is operating in the most efficient and cost-effective way.
"Following this review, we have identified a number of locations where we have bank branches in extremely close proximity – on average just under half a mile away from each other - and have taken the decision to merge branches in these locations, which will result in the closure of 37 branches.
"As we have now reached the final stage in the journey where we are in a position to start offering customers full, consistent banking services across all of our branches, starting with these locations, we are also commencing work to unify our high street branch network under one single Co-operative Bank brand. This will be rolled out across our whole branch network in 2013."
For further information please contact:
0161 903 3833
0161 903 3831