Eltham’s TSB to close as bank slashes its branch network

TSB card
There will now be just four TSB branches in SE London

Eltham’s TSB branch will close next May as the bank shuts down a third of its branches across Great Britain.

The loss of the Eltham branch will leave the bank with just four branches in south-east London: Bermondsey, Bromley, Greenwich and Peckham. A branch in Sidcup closed earlier this year.

Nationally, 164 branches are going in this round of closures, with the loss of 900 jobs.

TSB’s chief executive, Debbie Crosbie, said the bank was “reshaping our business to transform the customer experience and set us up for the future”.

“Closing any of our branches is never an easy decision, but our customers are banking differently – with a marked shift to digital banking.”

TSB was formed in 2013 when it was carved out of Lloyds TSB as a condition of the government’s bailout of Lloyds in the financial crisis of 2008.

The Eltham branch was part of the original Trustee Savings Bank, which merged with Lloyds in 1995. Its last day of trading will be 13 May 2021.

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