15 December 2017
visit http://response.ncr.com

The Nottingham Building Society expands branch network

21 July 2017  |  5918 views  |  0 Bank Branch Desk with Customer 3

The Nottingham Building Society is bucking one of banking's biggest trends, expanding its physical footprint by opening seven new branches in British market towns.

The UK's high street giants have been slashing their branch networks as customers go mobile, while a slew of new app-only challengers are entering the market.

Yet The Nottingham says that it has seen footfall to its branches increase by over 10% in recent years, prompting it to take over seven branches operated by the Norwich & Peterborough Building Society.

In a poll commissioned by The Nottingham, 75% of Brits say it’s important to have access to face-to-face advice in a branch, and 42% insist that if branches offered more services, they would visit them more.

When the new branches come online later this year, The Nottingham will have 67 sites in its network, more than double the number it had in 2012. In contrast, the wider UK market saw more than 1000 branches close last year.

David Marlow, chief executive, The Nottingham, says: "Around 26% of the country’s bank branches have closed over the past five years and as this trend continues our proposition becomes even more appealing and our business gets stronger.

"Branch closures are leading to more people finding it difficult to access face-to-face advice and service when it comes to dealing with key financial issues in their lives. This is particularly true in market towns, where much of our focus is placed."

The Nottingham is not the only FS firm benefitting from a physical presence on the high street. Swedish import Handelsbanken, which has built up a 207-strong branch network since entering the UK, this week posted record quarterly results.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Branch visits face steep decline as mobile banking takes hold

Branch visits face steep decline as mobile banking takes hold

28 June 2017  |  7088 views  |  2 comments | 10 tweets | 24 linkedin
Bank branch visitors more satisfied than digital-only customers

Bank branch visitors more satisfied than digital-only customers

28 April 2017  |  11661 views  |  3 comments | 35 tweets | 26 linkedin
Lloyds shrinks hundreds of branches

Lloyds shrinks hundreds of branches

03 April 2017  |  5804 views  |  0 comments | 8 tweets | 14 linkedin
RBS to close 158 branches

RBS to close 158 branches

23 March 2017  |  6861 views  |  2 comments | 11 tweets | 14 linkedin
HSBC offshores 200 IT jobs; closes 62 branches

HSBC offshores 200 IT jobs; closes 62 branches

24 January 2017  |  5970 views  |  0 comments | 9 tweets | 16 linkedin
UK banks strike branch banking deal with Post Office

UK banks strike branch banking deal with Post Office

24 January 2017  |  10109 views  |  1 comments | 29 tweets | 49 linkedin
Lloyds to cut further 3000 jobs and close 200 branches in wake of Brexit vote

Lloyds to cut further 3000 jobs and close 200 branches in wake of Brexit vote

28 July 2016  |  11778 views  |  10 comments | 9 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.solutions.lexisnexis.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10177 views comments | 16 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9240 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8885 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7580 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7204 views comments | 15 tweets | 24 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job