TSB reduces branch network by a third and loses 900 jobs

Thrugelmir

WillPS said:

Thrugelmir said:

The "spin" helps keep matters in perspective. Once free of the EU no doubt will see some of the forced demergers reversed. Made no commercial sense given the advent of digital banking. 

I'm not sure why you'd cheerlead such a thing (as far as switching/joining incentives go, it'd be at least one less), but surely such a reversal would require a hypothetical future where Sabadell would want to sell, Lloyds would have to want to buy and be the leading bidder and the CMA be complicit with such a merger... not really the straight forward maneuver you seem to think it would be.

Not cheerleading. Simply making an observation.  Kodak and Xerox were once great companies too. 

GreenBitterfly

Going by the list from The Mirror, my local TSB branch is to stay open, it's a pretty scabby looking branch (from outside anyway), they closed the refurbished TSB branch ( previously an ING branch) that was also in town a couple of years ago. 

[Deleted User]

Thrugelmir said:

The "spin" helps keep matters in perspective. Once free of the EU no doubt will see some of the forced demergers reversed. Made no commercial sense given the advent of digital banking. 

To be blunt, Halifax and Bank of Scotland were more desirable than TSB.

Lloyds TSB Scotland ( new TSB) wasn't allowed to be merged with Bank of Scotland due to Scottish market share. They had to shed market share in England and Wales due the the merger of Halifax and Lloyds TSB (new Lloyds) too.

Thrugelmir

dahj said:

Thrugelmir said:

The "spin" helps keep matters in perspective. Once free of the EU no doubt will see some of the forced demergers reversed. Made no commercial sense given the advent of digital banking. 

To be blunt, Halifax and Bank of Scotland were more desirable than TSB.

Lloyds TSB Scotland ( new TSB) wasn't allowed to be merged with Bank of Scotland due to Scottish market share. They had to shed market share in England and Wales due the the merger of Halifax and Lloyds TSB (new Lloyds) too.

Halifax brought LLoyds to it's knees. A marriage of convenience without prior due diligence was an expensive mistake. 

NottinghamKnight

Thrugelmir said:

dahj said:

Thrugelmir said:

The "spin" helps keep matters in perspective. Once free of the EU no doubt will see some of the forced demergers reversed. Made no commercial sense given the advent of digital banking. 

To be blunt, Halifax and Bank of Scotland were more desirable than TSB.

Lloyds TSB Scotland ( new TSB) wasn't allowed to be merged with Bank of Scotland due to Scottish market share. They had to shed market share in England and Wales due the the merger of Halifax and Lloyds TSB (new Lloyds) too.

Halifax brought LLoyds to it's knees. A marriage of convenience without prior due diligence was an expensive mistake. 

Well the BoS part of Halifax to be fair.

[Deleted User]

NottinghamKnight said:

Thrugelmir said:

dahj said:

Thrugelmir said:

The "spin" helps keep matters in perspective. Once free of the EU no doubt will see some of the forced demergers reversed. Made no commercial sense given the advent of digital banking. 

To be blunt, Halifax and Bank of Scotland were more desirable than TSB.

Lloyds TSB Scotland ( new TSB) wasn't allowed to be merged with Bank of Scotland due to Scottish market share. They had to shed market share in England and Wales due the the merger of Halifax and Lloyds TSB (new Lloyds) too.

Halifax brought LLoyds to it's knees. A marriage of convenience without prior due diligence was an expensive mistake. 

Well the BoS part of Halifax to be fair.

There is no BoS part of Halifax - Hornby, Crosby etc were all from Halifax.
Lloyds TSB also went to the UK Government with the begging bowl so weren't in a position to refuse. 

stclair

It’s a shame really however covid19 forced people online. However, they need to up there game with technology there app is shocking 

Don80

I have 2 family members who have been hit with recent TSB branch closures - with the nearest branch 20 miles away.  One switched to the Bank of Scotland, all went well and she's very happy.  The other is furious.  The day after the branch closed, she got a letter about her son's account, and needing to go in with paperwork as he's almost an adult.  

Dr_Crypto

While I think it is difficult to argue for branches in the modern world if banks want to move to a fully remote service then they need to stop this business of needing to get documents and things verified in a branch and move to modern online technologies. 

SebH

Dr_Crypto said:

While I think it is difficult to argue for branches in the modern world if banks want to move to a fully remote service then they need to stop this business of needing to get documents and things verified in a branch and move to modern online technologies. 

Absolutely, I couldn’t agree more. That’s really the only thing branches are needed for now, aside from cash and cheques (which are both quickly becoming irrelevant and, in the case of cheques, can normally be processed at home).

I find travelling in just to do a simple
administrative procedure a real pain!