Partly Cloudy

Partly Cloudy

max temp: 11°C

min temp: 5°C

ESTD 1874 Search

Ipswich/Colchester: Co-operative Bank to close former Britannia Building Society branches

18:29 24 January 2013

The Britannia Building Society name is to be phased out under a rebranding programme by the Co-operative Bank

The Britannia Building Society name is to be phased out under a rebranding programme by the Co-operative Bank

TWO branches of the former Britannia Building Society in Ipswich and one in Colchester are to close under plans announced by the Co-operative Bank today to reshape its network.


The bank, into which the Britannia was merged in 2009, is to close 37 branches in all and roll out a rebranding programme under which all Britannia sites will take on the Co-operative Bank identity.

However, the bank insisted that it was retaining a presence in all the towns affected, with other branches remaining open close by those due to shut.

The bank said the closures would lead to a total of 34 job losses, mainly at a managerial level, with the majority of the 188 staff employed at the affected sites being relocated to neighbouring branches.

Among those due to close are the Britannia branches in Felixstowe Road and Dale Hall Lane in Ipswich and in High Street, Colchester.

The Co-operative Bank branches in both towns will continue to operate, as will the Britannia branches in Queen Street and Woodbridge Road East in Ipswich.

John Hughes, managing director of retail banking at the Co-operative Bank said the group would rebrand all Britannia branches under the Co-operative Bank banner by the end of 2013.

The Co-op will have just over 300 branches following the closures, but it is poised to buy more than 630 that are being offloaded by Lloyds Banking Group to appease EU rules on state aid.

Its deal with Lloyds is worth up to £750million and will boost its branch network to nearly 1,000, also adding another 4.8m customers to its existing 6.5m customers.

The group has cut around £70m in costs since the Britannia merger in August 2009 and had originally planned a three-year integration to combine the businesses.

However, Mr Hughes said the Co-op had sought to ensure a “staged and measured” integration following the deal.


1 comment

  • Cut 70 million in costs ? I expect a large amount of this is staff wages and not having to pay building rent. I doubt the staff will be redpoyed within the business.

    Report this comment

    the opinion man

    Thursday, January 24, 2013

Ian White, managing director at Beckett Financial Services.

Beckett Financial Services has been ranked as one of the UK’s top 100 independent financial advisers by industry magazine New Model Adviser.

Josh Eames and Ryan Scillitoe of Perrywood Garden Centre and Nurseries in Tiptree who have have raised more than £5,000 for charity through a 1,000-mile cyclinge challenge.

Josh Eames and Ryan Scillitoe from Perrywood Garden Centre and Nurseries in Tiptree have raised more than £5,000 for charity through a 1,000 mile cycle challenge.

The Leading Lives team receive their tropy at the Social Enterprise UK Awards in London.

Ipswich-based Leading Lives has been named Health and Social Care Social Enterprise of the Year at the Social Enterprise UK Awards.

The Hot Off The Press premises inTacket Stret, Ipswich, which the company has vacated after 25 years.

A printing company which has operated from the centre of Ipswich for 25 years has relocated – to a purpose-built log cabin in the owner’s garden.

Elaine and Nigel Bowen of Vanguard Communications.

Two businesses which receive support from Suffolk enterprise agency Menta have received Small Business Sunday awards from entrepreneur and former BBC Dragons’ Den star Theo Paphitis.

Wayne Seddon from The Bridge House in London receives his Adnams Pub of the Year award from chief operating officer Karen Hester.

Southwold-based Adnams has named The Bridge House, near London’s Tower Bridge, as its Pub of the Year.

Georgi Rollings, left, and Emma Lawrence of Starfish Accounting.

An Ipswich based provider of online company secretarial software has reached the landmark milestone of having 10,000 users.

Robert Hughes, managing director of Hughes Electrical, and Andy Yallop, store manager, at the company's new branch in Bury St Edmunds.

Hughes Electrical has opened the doors of its new store in Bury St Edmunds following a £200,000 investment which has also created six new jobs, doubling the size of its workforce in the town.

A file picture of the Sanofi factory in Haverhill.

More than 50 jobs are to be axed at the Haverhill site of pharmaceutical group Sanofi.

Barclays has been fined £72m by the Financial Conduct Authority.
Photo: Jonathan Brady/PA Wire

Banking giant Barclays has been fined £72million by the City watchdog for failing to handle potential financial crime risks relating to a £1.88billion transaction for ultra high-net-worth clients.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24