Report by Alex Evans, Reporter
Monday, July 23, 2012
TWO major business branches in Weston and Somerset will change ownership as part of a sell-off of hundreds of banks and building societies nationwide.
Cheltenham & Gloucester in Walliscote Road, Weston, and another branch of the building society in Union Street, Cheddar, will be sold to the Co-operative Group plc by Lloyds Banking Group.
The move is part of a sell-off of 632 branches of Lloyds and Cheltenham & Gloucester across the country by November 2013.
António Horta-Osório, Lloyds’ chief executive, said: “We believe the Co-operative will be a good owner for our business, customers and colleagues, and the combined banking business will be a significant competitor on the high street.
“In agreeing to move ahead with the Co-operative we provide greater certainty for our customers and for our shareholders.”