by business editor Trevor Sturgess

Kent Reliance Building Society is using its links with a private equity firm to expand its branch network.

The Chatham-based mutual that aims to transform into a bank and provident society is seeking premises in Tonbridge, Tunbridge Wells and Sevenoaks, all towns where it has not had a presence for a long time.

It hopes to find agency partners to represent the society in all three towns.

At the same time, it is looking for new premises and a new partner in Maidstone. The present arrangement is due to come to an end soon, but because Maidstone is one of the society's busiest branches, it wants to stay in the town.

"Our preferred option is to find a partner but we would operate on our own," said Stephen Plimmer, the society's head of marketing.

"We've viewed all of our business and we want to extend and expand our agency network and run branches independently where necessary."

The society already runs branches without partners in Strood, Chatham and Hempstead Valley. It is looking to re-locate its Strood branch a few doors down from its existing premises.

The new enthusiasm for branches, after a number of closures in recent years, follows an agreement with J C Flowers, a US-owned company that invests in financial services' businesses. It has promised a £50m cash injection if members back the proposal to create OneSavingBank Plc and Kent Reliance Provident Society. A decision will be announced on November 19. As part of the deal, Kent Reliance promised to expand its branch network and give branches a "cleaner and brighter" look.

Chief executive Mike Lazenby said: "As long as enough people want to use a branch, we are happy to run them."

As for the County Town branch, it is "our aspiration to continue with Maidstone, either as an agency but more likely as a branch."