Bradford Business
Yorkshire Building Society to expand branch network
10:10am Tuesday 21st February 2012
Yorkshire Building Society is planning to open more high street branches over the next two years in a move it says underlines its commitment to dealing with customers face-to-face in their own communities.
The Bradford-based mutual intends to open 12 new branches, adding to the 65 per cent growth in its high street presence over the past four years. The move will create more than 50 new jobs, although the locations of the new offices have not yet been specified.
YBS is also continuing to grow its agency network, with 15 new agencies opened in 2011 and more planned for this year.
The Yorkshire is the UK’s second largest building society and since 2008 has grown substantially by taking over the Barnsley, Chelsea and Norwich and Peterborough societies and buying the mortgage and savings business of online banker Egg.
YBS has 224 branches, 94 agencies and assets of about £33 billion. It employs 3,850 staff and has 3.5 million borrowing and saving members.
New chief executive Chris Piling said: “Our branch and agency network is at the heart of Yorkshire Building Society and I’m delighted that we are able to announce this expansion when other financial institutions have been closing theirs.
“We are committed to retaining a strong presence on our high streets, providing our customers with access to a wide range of good value financial service products.
“Our recent merger activity highlighted the value we place on our branch network, with all the branches we acquired remaining open, even in the small number of locations where there has been an overlap with another Yorkshire branch. These mergers have seen the Society grow its branch network by 65 per cent from 135 to 224 in three years.
“To ensure our members can deal with us in whatever way they choose, we will continue to invest in our award-winning internet and telephony channels, however our primary focus is on our branches where we offer a credible and secure alternative to the high street banks.”
Chris Pilling, 45, joined the Yorkshire from HSBC, where he was in charge of the branch network. He also had senior roles at Procter & Gamble, Asda and online bank First Choice.
Mr Pilling succeeded Iain Cornish who stood down at the end of 2011 after 20 years with the Society and eight in the top job.
At the time of his appointment Mr Pilling said: “The Yorkshire has a tremendous opportunity to build on its status as an independent building society to provide a real and trusted alternative to the banks and I am very much looking forward to being a part of that.”