Abbey rings new branches bell
(18 December 2007 – UK) British bank Abbey is set to open 300 new branches over the next five years.
The additional branches will boost Abbey’s network from 700 to 1000 with the first branches due to open in 2009.
Many of the new branches will be opened in parts of the UK where the bank currently has little or no footprint, such as the midlands and north east.
The expansion plans form part of owner Banco Santander’s plans to turn around the high street bank. Santander bought Abbey in 2004.
Abbey said that whilst it offers telephone and Internet banking, many customers preferred dealing with staff face to face in a branch.
Other UK banks, including HSBC, are planning to grow their branch networks over the next couple of years.
Many of the new branches will be opened in parts of the UK where the bank currently has little or no footprint, such as the midlands and north east.
The expansion plans form part of owner Banco Santander’s plans to turn around the high street bank. Santander bought Abbey in 2004.
Abbey said that whilst it offers telephone and Internet banking, many customers preferred dealing with staff face to face in a branch.
Other UK banks, including HSBC, are planning to grow their branch networks over the next couple of years.
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