Co-operative Bank set to close in Portsmouth branch

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PORTSMOUTH’S branch of The Co-operative Bank is one of 37 set to close nationally.

The bank, in Arundel Street, Landport, will be closing as there is a branch within half a mile.

The firm merged with Britannia in 2009.

Along with the branch closures, the firm has announced the name Britannia will disappear from the high street.

The move means there will be 34 job losses across the country, largely at a managerial level, while the bulk of the 188 staff employed in affected banks are being moved to neighbouring branches.

John Hughes, managing director of retail banking at The Co-operative Bank, confirmed the group will rebrand all Britannia branches under the Co-operative Bank banner by the end of 2013.

The firm will have more than 300 branches following the closures, but said it will be buying more than 630 sites from the Lloyds Banking Group.

The deal is set to be worth up to £750m.