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A building society with two branches in Caerphilly County Borough has vowed to retain its high street presence until at least 2030.

Principality, which has branches on Blackwood High Street and on the Twyn in Caerphilly, has made the announcement amid a spate of bank branch closures in recent years.

Santander recently announced it will be closing its Blackwood branch for good on June 23 this year, while its Caerphilly branch will have its hours reduced, opening only on Tuesdays and Thursdays between 9.30am to 3pm, from June 30.

Santander is the latest in a longline of national banks closing its branches. Barclays, Halifax, HSBC, and Lloyds have all closed outlets across Caerphilly County Borough in recent years.

Principality has said its own research revealed more than 70% of people agree that a branch presence is a key factor in deciding which financial provider to choose.

Vicky Wales, chief customer officer at Principality, said: “All our branches have played an integral role in supporting their local communities, and this announcement means that our members can continue to access essential in-person services for years to come as we maintain our presence in the community.”

Kelly Young, Principality’s head of customer services savings, said: “As more financial institutions announce branch closures, we remain focused on supporting our members and the local community with vital financial services.

“We know that access to cash and our extensive branch presence enable us to provide the services that our members rely on.”