Partly Cloudy

Partly Cloudy

max temp: 29°C

min temp: 17°C

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

A photo of the fire in the old Fisons building, Bramford, taken by Neil Rogers.

Trains between Stowmarket and Ipswich are running at reduced speed due to “thick black smoke” coming from a fire in the old Fisons building in Paper Mill Lane, Bramford.

South East Suffolk Magistrates' Court

A rap-loving noisy neighbour has been taken to court for continually disturbing his Ipswich neighbours with his music.

Ben Gummer, left, at the Suffolk Chamber of Commerce and EADT EU referendum debate at UCS in Ipswich

In the third of five three-minute interviews, Ipswich MP Ben Gummer reflects on the European Union referendum and what it means for the town.

Aldeburgh beach was packed with people enjoying the sun on Wednesday 24th August.
L-R Chris and Jane Linford,Jan and Ken Garratt.

With the school summer holidays drawing to an end East Anglia’s tourist hotspots are gearing up for bumper crowds looking to make the most of the bank holiday weekend.

Skye Biggs with her mum Lana Heath.

All little Skye Biggs, of Felixstowe, wants from life is a day devoted to her favourite TV character.

The winner of the Get Caught Reading competition was Amanda Williams who sent in a photo of her daughters Cahir and Eira sitting in lockers at Haverhill swimming pool.

Dozens of creative entries have been submitted into the Suffolk Libraries Get Caught Reading and Bookface competitions as a means to inspire readers.

Fire station in Princes Street, lpswich

One of two full-time appliances based at Princes Street in the town has left the station as part of the shake up of Suffolk’s fire services approved earlier this year.

St Elizabeth Hospice have revealed a new pig   Dr Trott and Nurse Honey-Cured

The Pigs Gone Wild trail has just days left to run but before we say Ta Ta Trotters, we want to know which is your favourite pig.

East Town Bottle Shop & Tap Room artwork, created by Ipswich-based artist Jacob Elgaard

Ipswich’s first micropub East Town Bottle Shop & Tap Room has unveiled a mural created by Suffolk artist Jacob Elgaard.

Police crack down motoring offences on the A140 at Stonham Parva.

More than 60 Suffolk motorists are still driving despite having 12 points or more on their licence, according to DVLA figures

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

MyDate24 MyPhotos24