TSB to close branches in Gidea Park and Barkingside

The branch in Main Road, Gidea Park (credit: Google Maps)

TSB’s branches in Gidea Park and Barkingside will close in 2020, as part of a cost-cutting exercise.

The bank is closing 86 across the country, putting up to 400 jobs at risk. 

Barkingside’s branch, located in the High Street will close in September, while Gidea Park’s, in Main Road, will close in November.

The TSB branch in Chingford is also set to close.

All other local branches are set to stay open but, between now and the end of 2020, the number of branches will decrease from 540 to 454.

Earlier this week, the bank laid out its three-year strategy to make at least £130 million of profit by 2022.

TSB’s CEO, Debbie Crosbie, said: “Our new strategy positions TSB to succeed in a challenging external environment at a time when we know customers want something different and better from their bank.

“With a trusted brand, modern platform, and national presence, TSB is well placed to deliver – but we need to make changes to enable us to compete.

“Taken together, these changes will help us to serve more customers, better, for the long-term.”