Bank outlines bid to bring local banking back to Brechin

Pictures is the Brechin TSB branch

Pictures is the Brechin TSB branch

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TSB Bank in Brechin has said it is bringing “local banking” back to Britain as six Angus branches welcomed TSB back to the high street.

The new look bank, which used to be a Lloyds TSB branch, launched on Monday, September 9.

The creation of the new TSB Bank by Lloyds Banking Group follows a ruling by the European Commission and the UK Government in November 2009 aimed at bringing more competition to the UK banking market.

A host of activity took place on Monday at relaunched TSB bank branches at Montrose, Forfar and Kirriemuir.

The company declared its commitment to bringing back local banking to Britain and welcomes customers, old and new, who want to see economic growth in Angus.

A spokesman for the company said: “Customers of TSB know that every penny of their savings will only fund mortgages and loans in local communities or to help a small business to grow. Borrowers at TSB know that the money used to fund their mortgage or small business loan is from savers’ deposits – and from nowhere else.”

Paul Pester, TSB’s chief executive, speaking on Monday, explained: “TSB bucks the trend in banking. We look forward to bringing local banking back to Angus and serving local communities in the area.

“And let’s not forget where we have come from. The TSB movement was originally created over 200 years ago when the Reverend Henry Duncan established the first Savings Bank in Ruthwell, Scotland.

“Its sole purpose then was to serve the local people in the community.

“This is exactly what we’re doing again today as we bring the new TSB Bank back to Angus, to fuel local economies – and nothing else.”