New bank on Dursley high street
THE SELLING off of a large portion of Lloyds Banking Group has led to an old face returning to the high street.
On Monday September 9 the 631 Cheltenham and Gloucester branches across the country, including ones at Dursley, Stroud, Thornbury and Wotton-under-Edge, reopened as TSB.
TSB, or the Trustee Savings Bank, was founded in 1810 but merged with Lloyds to become Lloyds TSB in 1995.
The reformation of TSB by Lloyds Banking Group follows a ruling by the European Commission and the UK Government in November 2009 aimed at bringing more competition to the UK banking market.
Manager of the Dursley branch on Parsonage Street, Russell Waterhouse, said it was very exciting opening a brand new bank on the high street.
"It means that they have more choice on the high street which is always a good thing and that we are willing to put back into the community, rather than offshore accounts like some banks have done," he said.
"The heritage of our business is that we are very customer-orientated. We can now offer new products and services."
Mayor Jane Ball opened the new bank on Wednesday September 11 and she wished the staff the best of luck in the future.
The TSB company has more than 4.6 million customers and over £20 billion of loans and customer deposits, operating by 8,500 staff.
A spokesman for the company said TSB was now focusing on ‘local banking’ – a banking model which sees them focus solely on supporting economic growth in the communities it serves.
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