Halifax plans 20 new branches for 2007

Source: Halifax

Halifax announces it will open 20 new branches primarily in the south of England next year.

The first of the branches to open next year will be in Basingstoke in mid February. It will be followed by new branches in Monmouth, Christchurch, Leicester and the City of London.

The 20 new branches next year are part of the new retail banking outlets that the Halifax said earlier this year it would open over the next five years. Nine branches have already opened since the expansion programme began in the summer. Around 1,500 new jobs will be created in the process.

Branch locations

Halifax is primarily concentrating its branch expansion efforts in the South of England and also aims to increase capacity and capability in key Central London locations.

The new branches will either be in towns where there has previously been little or no Halifax presence or in bigger, better locations in the same towns. Each branch will have approximately 15 banking staff, including mortgage and investment advisers.

ATMs

As a result of the 100 new branches, an additional 300 'fee-free' ATMs will be added to the existing 2,700 HBOS ATM network. This is in addition to HBOS' commitment to install a further 100 'fee-free' ATMs in low income areas in Scotland and the North of England. HBOS already has agreements in place for over 50 of these new ATMs to be installed in low income areas.

Increasing Market Share

HBOS currently has approximately 1,100 branches across the country. The branch expansion programme will help the Group achieve its stated market share targets of 15-20% in its core markets of savings, banking, mortgages and investments.

Commenting Shane O'Riordain, General Manager, Group Communications, said: "Our branch expansion programme continues at pace. This is our biggest branch expansion programme since the 1970's."

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