Member Article

Manchester’s Co-op bank to close 57 more branches

Manchester’s Co-op bank have announced plans to close 57 more branches across the country.

The bank has faced pressure to cut costs and plan to take the number of branches to 165 by the end of July.

The times report the closures will result in 77 job losses.

A statement was issued by the director of retail and commercial bank at The Co-operative Bank, Liam Coleman, who said: “These changes are part of our business plan to turn the Bank around by restructuring and modernising the Bank into a simpler, more efficient business.

“Although decisions such as these are never easy, continuing to reduce our costs is necessary as we seek to build a sustainable business for the future.

“We have sought to keep the impact on our customers to a minimum.

“We’re committed to maintaining the high levels of service that our personal and business customers have come to expect from us and are writing to affected customers giving them advance notice about these changes and the alternative options available to them.

“Alongside online and mobile banking facilities, all closing branches are within ten miles of an alternative branch and within three miles of a Post Office branch where customers can undertake most day to day transactions, and in many cases much closer.

“As we rebuild and reshape the Bank we are focused on responding to the changes in the way customers are choosing to bank.

“While our branch network remains an integral part of our overall customer service offer, we are investing in our digital offering to provide customers with new, innovative ways to service their accounts as the trend for consumers to move their day to day transactions online accelerates.”

This was posted in Bdaily's Members' News section by Sophia Taha .