First new branch opens in Halifax’s southeast expansion plan

The HBOS-owned Halifax bank has opened a new branch in London's Cannon Street. The development is part of an earlier announced expansion strategy for the southeast of England.

According to the Yorkshire-based lender the new branch is the first of up to 40 new Halifax branches in London. If the plan is fully realized, 600 new jobs will be created by the Halifax in the UK capital over the next five years.

Cannon Street will be followed by a Fenchurch Street outlet later this month. A further seven branches are planned to open before the end of the year, including branches in Bloomsbury and Old Broad Street. In total Halifax is opening 100 new branches across the south of England

The branch expansion will help HBOS achieve its stated market share targets of 15-20% in savings, banking, mortgages and investments, the lender said in a statement.