following the announcement around the planned the closure of its branch in Gibraltar, Newcastle Building Society has stated that it hopes to work closely with the Gibraltar Government to manage the transition for customers. Expressing commitment to maintaining an ongoing dialogue through the process, chief executive Andrew Haigh, stated:
“We are confident that the Gibraltar economy has a strong future. Our decision to close the branch is purely a matter of geography. Over recent years we have become increasingly focused on our regional heartland – the North East of England.
“The decision to close a branch is never made lightly, the plans we’ve announced today reflect our ongoing strategy to strengthen our regional focus.”
Whilst the current indicative date for the planned branch closure is October 31, the Society aims to work with the Gibraltar Government to review and confirm details of the process, including the management and timeline for transition of savings and mortgages products held by customers in Gibraltar.
Andrew Haigh added: “We will be writing to all our customers to inform them of the change and what this means to them and have set up a dedicated telephone information line for our Gibraltar customers.”