Bank bosses say they are “bucking the trend” as they open a new branch in a town centre where two competitors have quit.

Kent Reliance has relocated to a bigger premises in Gravesend which chief executive officer Andy Golding branded a “vital” move to keep it in the “heart of the community”.

Speaking to KentOnline, he said: “We are committing to this town and high street and investing in it. It is a win-win for our customers and us.

“If businesses do not invest in the town centre they will just become filled with charity shops and coffee shops.

“Communities need their town centres to be more than that and we are hopefully playing a small part in helping this.”

Savings director Louise Halliwell said: “Some of the bigger banks are closing their branches but it is really important that there are premises like this in the community.

“We are seeing areas and communities without a bank and it is really sad. It is nice to be part of bucking that trend and open a branch like this.

“It is a really positive move. It is nice to have that reassurance of a bank you can go into.”

According to Which? as of May 17, there have been 387 scheduled bank branch closures across the UK for 2024.

In Gravesend, Barclay in New Road closed in May and NatWest in King Street is due to shut its doors in August.

Both said it was due to a lack of footfall, with customers preferring to use its online services than visit a branch.

However, Andy said this is not the case for Kent Reliance which is part of the lender and savings provider OSB Group.

He added: “Our banks are getting busier and people are using them more than ever so that is why we decided to make them bigger and in more central locations.

“This is exactly the right place for us to be. It will make a difference.

“Our customers want to invest big amounts of money and doing that online or speaking to someone in a call centre is difficult.

“Whereas doing it here, you can meet the team and know they will be here if needed. It gives a personal touch.”

Louise said their clients want in-person interaction, something that a lot of other brands are moving away from.

She added: “Some of our customers tend to be elderly or want face-to-face contact, especially when they are trusting us with their life savings.

“It is important to be able to speak to people. I think people crave that interaction.”

The new branch has opened in part of the former Woolworths unit, in King Street, Gravesend, next to Starbucks, and is powered using renewable electricity.

It has separate meeting rooms to support customers with additional needs, as well as more spacious service areas, and access has been improved.

Designed and built by Office Interiors UK, it took 11 weeks to refit the new branch which opened on Tuesday, June 18.

Kent Reliance, which has a head office in Chatham, first opened in Gravesend in 1986.

The old premises, on the corner of Windmill Street and Manor Road, closed on Thursday, June 13.