Oban branch of TSB is saved from closure

Oban's TSB bank will remain open for business.

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Oban’s TSB branch has not been included in the list of 82 outlets set to close in 2020.

Earlier this week, the bank announced there would be closures as part of a plan by new chief executive Debbie Crosbie to make £100 million of cost cuts by 2022.

The bank said that 370 staff positions would be hit by the closures which, it says, are largely being brought about following the IT crisis last year, which affected 1.9 million customers.

Andrew Spence, chief executive of BID4Oban, the organisation tasked with delivering projects and services that will improve the trading environment within the town, said: ‘I am delighted that the Oban branch will remain open.

‘We must be one of the few towns in Scotland still to have four major banks.  It is an indication of the continued growth of Oban as a town and business hub.

‘Over the next five years we will have 500 more houses in the vicinity, the residents of which will all need these vital services. This news will be welcomed by residents and businesses alike.’

At the end of 2020, TSB will have a network of 454 branches.

Banks and building societies closed a total of 3,312 branches in between January 2015 and August 2019, with an average of 55 closing each month. A further 100 branches have already been scheduled to close before the end of this year.

The RBS group, which comprises of NatWest, Royal Bank of Scotland and Ulster Bank, closed 1,094 branches during the period; Lloyds Banking Group, made up of Lloyds Bank, Halifax and Bank of Scotland, shut down 569 sites.