TSB to open £2m Aberdeen hub as three city branches go

TSB has announced Aberdeen is to be one of two locations for the first of its new flagship branch concept.

The bank, which was spun-out of the bailed-out Lloyds Banking Group in September 2013, revealed proposals to open a £2million flagship branch in the Granite City later this year.

However, it was also announced that three existing outlets in the city will close as part of the lender’s plan.

TSB said its outlets on Union Terrace, Queen’s Road and Castle Street will close by the end of 2016 as part of the plans as they were all competing for the same customers.

They will be replaced by the new central branch on St Nicholas Street and a similar programme is to be implemented in Birmingham.

Two of the three outlets set for closure in Aberdeen are within half a mile of the new site, but the outlet on Queen’s Road is 1.7 miles away.

The project is part of TSB’s “on-going strategy to ensure it has the right branches in the right places”.

The bank said it is fully refurbishing 10 branches and refitting around 100 others to upgrade and modernise its network. The branches, it said, will offer better technology, more facilities and improved services, including more self-service facilities and more staff on hand to help customers.

The bank said that the site for its new hub in St Nicholas Street had been chosen for its central location and good transport links.

It added that a survey of almost 1,700 customers showed 58 per cent felt it was important to have branches near the destinations they travelled to for work, shopping and social purposes.

TSB have confirmed no redundancies are expected to result from the move.

About 25 full-time equivalent staff members will work at the new base, roughly in line with the number of employees at the three closing branches.

Those employees will be given the option to transfer to St Nicholas Street and TSB expects the central branch to open in late November or early December following investments of between £1.5million and £2million.

It will be the first purpose-built site TSB has opened in Scotland since it returned to high streets as a subsidiary of the Spain-based Sabadell Group in 2013.

Carol Anderson, TSB’s network distribution director in Scotland, said: “I’m really excited to be announcing TSB’s first brand new branch right here in Aberdeen.

“We absolutely believe we need the right branches in the right places. The site at St Nicholas Street has been chosen for its central location with good transport links, making it more convenient for more customers to bank with TSB how, when and where they choose.”

Peter Navin, distribution director at TSB, added: “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.

“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.”