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TSB returns to Basingstoke as a stand-alone bank
THE bank that likes to say yes is back in Basingstoke.
TSB – Britain’s eighth biggest high street bank – re-launched on Monday as a stand-alone brand.
Eighteen years ago, TSB disappeared from the high street when it merged with Lloyds Bank, to form Lloyds TSB.
But this week Lloyds Banking Group transferred more than 4.6 million customers to the revived TSB.
The bank’s logo featuring white lettering on blue circles has replaced the Lloyds black horse emblem as well as the Cheltenham and Gloucester brand at 631 branches across the country.
And on Tuesday, the Cheltenham & Gloucester branch, in Winchester Street, was officially rebranded when long-term customer Phil Kent cut a ribbon.
Mr Kent, 68, who lives on the Berg Estate, in Basingstoke, said he had been a customer at the former Cheltenham & Gloucester branch for 15 years.
He said: “I like the friendly, personal and efficient service you get here – like you’d get from banks years ago.”
The retired carer was pleased to see the TSB name back in Basingstoke, recalling a branch that was based in Wote Street, where the British Heart Foundation shop is today.
Lena Lynch, who has been in charge of the branch since 2008, said TSB will focus on individual and small business customers, aligning itself with the image of the dependable high street bank, with a bank manager, rather than the risk-taking traders of investment banking.
The new bank employs 8,000 with seven working at the Basingstoke branch.
Pleased with the new TSB signage and feel of the bank, Mrs Lynch said: “It’s quite fresh and a new concept for us, and we hope to be a real challenger on the high street.”
Mrs Lynch added: “We’ve had a lot of positive reaction from our customers. We are returning to local banking and we want to back the local community and that is what we will bring to the high street.”
Lloyds Banking Group, which is 39 per cent state-owned, plans to float the TSB in the middle of next year, as part of a process ordered by the European Commission to provide greater competition TSB can trace its heritage back to the foundation of a self-supporting savings bank set up in 1810 by the Reverend Henry Duncan, in Ruthwell, Dumfriesshire.
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