Five Scottish branches among 17 TSB closures
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Challenger bank TSB has revealed the 17 branches that it will close ahead of its £1.7billion takeover by Spain’s Banco de Sabadell.
There will be five closures in Scotland.
Two will be in Glasgow, two in Aberdeen, and one in Dundee.
The locations of sites to be closed south of the border are:
England:
Wales:
The bank said it is closing sites where it has two or more branches within 500 metres of each other as part of plans to cut costs next year after the company reported a steep fall in first quarter profits this week.
Profits for the first quarter of 2015 were down 67 per cent on a year ago at £34.3million.
Nevertheless, the results were an improvement on the previous quarter when profit came in at £13.5million.
TSB said the fall came about as it spent money developing its infrastructure after being spun out of Edinbrugh-based Lloyds Banking Group as a result of EU bailout guidelines.
Lloyds was forced to unwind TSB last June under terms imposed by Europe at the time of its £20 billion bailout by the UK taxpayer
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