The first of the new branches will be in Basingstoke, scheduled to open in mid-February 2007, to be followed by branches in Monmouth, Christchurch, Leicester and the City of London.
The 20 new branches follow the bank’s earlier announcement of its strategic expansion program, in which it plans to open 100 retail banking outlets over the next five years, beginning in summer 2006. Since the implementation of the program, nine branches have already been established. An estimated 1,500 jobs will have been created once the program is completed.
The expansion program will concentrate primarily in the southern UK region as well as aiming to increase capacity and capability in key Central London locations.
The new branches will be located in towns with little or no Halifax presence or in better locations in the same towns. Each branch will have approximately 15 banking staff, including mortgage and investment advisers.
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. Furthermore, HBOS, Halifax’ parent company, is committed to provide another 100 fee-free cash machines in low-income areas across Scotland and the North of England.
The branch expansion program is expected to help the group achieve its stated market share targets of 15% to 20% in its core markets of savings, banking, mortgages and investments.
