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TSB to close 164 branches including Canterbury outlet

High street bank TSB has announced its Canterbury outlet will be one of 164 branches to close, as it axes around 900 jobs.

The move has been motivated by a "significant shift in customer behaviour" which has seen people ditch in-store branches in favour of online banking, the Spanish-owned bank claimed.

TSB is accelerating its branch closures
TSB is accelerating its branch closures

It will leave the company with 290 branches, more than halving its total amount of stores over the past seven years.

Around 900 job losses will follow with the vast majority likely to be colleagues who come forward for voluntary redundancy.

In Kent, TSB currently has outlets in Canterbury, Maidstone, Tunbridge Wells, Chatham, Bluewater, and Sheerness.

Of those, only the Canterbury branch is earmarked for closure, on February 3.

Earlier this month another branch in Bank Street, Ashford shut its doors for good.

The bank had previously said it intended to reduces the size of its branch network but it is understood these plans have been accelerated by behaviour during the pandemic.

Debbie Crosbie, chief Executive of TSB, said: “Closing any of our branches is never an easy decision, but our customers are banking differently – with a marked shift to digital banking.

“We are reshaping our business to transform the customer experience and set us up for the future.

"This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.

“We remain committed to our branch network and will retain one of the largest in the UK.”

The TSB is closing 164 branches nationwide. Picture: Google
The TSB is closing 164 branches nationwide. Picture: Google

The firm said the cuts are being made across its branch network, as well as in its mortgages and customer service operations teams.

Robin Bulloch, customer banking director at TSB, said: “Alongside these changes, we will continue to invest in our remaining branch network to offer high quality banking services, fully integrated with improved digital capability.

“We are working to ensure the transition towards digital – which is being seen right across the economy – is handled sensitively and pragmatically for our colleagues and customers.

“We’re taking steps to support vulnerable customers and those in rural locations.”

But union Unite has urged the bank to rethink its plans, adding that they provide much needed jobs during the current pandemic.

Dominic Hook, Unite national officer, said: “Not only do these staff deserve more from their employer after showing the utmost loyalty to TSB, customers will be deeply hit by these branch closures.

“Unite has argued for some time that the financial services industry has a social responsibility not to walk away from its local customers, who continue to need access to banking in bank branches.”

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