The TSB bank branch on Boswall Parkway is among 164 to be closed, TSB has announced. Edinbugh’s Corstorphine and Gorgie branches also face the axe.
TSB blames “a significant shift in customer behaviour” as more customers bank online. (Perhaps more customers ‘choose’ to bank online as more and more of their local branches are shut down? – Ed.)
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.”
THIS ‘RESHAPING’ WILL SEE THE TSB CLOSE ONE THIRD OF IT’S BRANCHES
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.”
The latest figure is in addition to the 82 branches it said it would close in November, when TSB set out plans to save £100m by 2022.
Unite trade union described the TSB’s announcement as “a dark day for the finance sector”.
Lothian MSP, Miles Briggs, said: “These bank closures are extremely concerning and a sign of the impact that Covid-19 is having on the economy in Edinburgh and the Lothians.
“In recent years there have been a number of bank closures which affect people’s access to banking facilities and makes it harder for people to manage their finances.
“It is crucial that bank employees who are being made redundant are fully supported in finding new roles and any training for those roles.”