Co-op to close bank in Northampton town centre

GV of Co-op Bank Abington Street, Northampton.
GV of Co-op Bank Abington Street, Northampton.

The Co-operative Bank today announced plans to close its branch in Abington Street, Northampton.

The move is part of a nationwide closure programme, which will see 37 branches shut.

The firm said the bulk of the 188 staff employed across affected banks would be relocated to neighbouring branches.

The Co-op will have just over 300 branches following the closures, but it is poised to buy more than 630 that are being off-loaded by Lloyds Banking Group.

Its deal with Lloyds is worth up to £750 million and will boost its branch network to nearly 1,000, adding another 4.8 million customers to its existing 6.5 million base.

The group has cut around £70 million in costs following its Britannia merger in August 2009 and had originally planned a three-year integration to combine the businesses.