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Britain's TSB axes 164 branches and around 900 jobs

FILE PHOTO: A sign is displayed outside a branch of the TSB bank in central London March 12, 2015. British challenger bank TSB has received a takeover approach from Banco Sabadell, valuing the business at about $2.6 billion and sending its shares soaring by nearly a quarter. REUTERS/Neil Hall/File Photo

LONDON (Reuters) - British bank TSB has announced it will close 164 branches and cut around 900 jobs, pressing on with cost-cutting as lenders grapple with the economic impact of the COVID-19 pandemic.

TSB, part of Spain's Sabadell SABE.MC, said the cuts were part of its three-year strategy to reduce costs to stay competitive.

Reporting by Iain Withers, Editing by Lawrence White

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