Friday 15th December 2006
High street bank Halifax has announced plans for expansion in order to reach its desired market share for investments and mortgages.
The chain, which currently operates about 1,100 locations including Bank of Scotland branches, says it is aiming for a 15-20 per cent share in the market for banking, mortgages, savings and investments.
And it hopes to achieve this result by opening an additional 20 branches throughout the country over the next year, to mainly be situated in the south of the country.
Shane ORiordain, general manager of group communications for Halifax, said: "Our branch expansion programme continues at pace."
"This is our biggest branch expansion programme since the 1970s," he added, referring to plans for 100 new branches to be opened over the next five years.
Some 300 new non-charging cash machines are expected to be created to serve the new branches.
Halifax stressed that these are in addition to the 100 non-charging machines it recently pledged to open in deprived areas to combat the problem of people being charged for access to their own money.
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