Just three months after Lloyds Bank International announced 120 job losses it is moving about 300 metres across the centre of the capital to a new home this weekend.

A Lloyds Bank International boss said the new ’flagship’ branch which opens on Monday at Villiers House on the corner of Victoria Street and Loch Promenade, is a clear sign of the bank’s commitment to its customers.

The bank’s new home will replace the Victory House branch in Prospect Hill.

Villiers House will also act as the base for a variety of teams previously based in Peveril Buildings round the corner.

Villiers House will accommodate approximately 400 Lloyds Bank International and Black Horse Finance employees in the offices above the branch.

In February the bank announced plans to make a net reduction of 120 jobs in the island - more than a quarter of its workforce here.

A bank spokesman confirmed to the Manx Independent that while they have announced role reductions the people involved are still with the business, and some will be so for a number of months.

The spokesman explained: ’We have in excess of 400 who will be based there from Monday, but as colleagues depart through those announced reductions it drops below 400.’

Lloyds said Peveril will be handed back to the landlord but it is not known what the plans are there. The Victory House base ’will need to be stripped clear, but after that we are not aware what will happen next’.

Victory House’s last day of opening will be tomorrow (Friday) with Villiers House’s first opening day coming on Monday.

Bosses are understood to be expecting to see a slightly larger footfall, because of its new ’handier’ location.

Alasdair Gardner, islands director, Lloyds Bank International, said: ’Villiers House is one of the Isle of Man’s most iconic buildings, so it is exciting to be finally opening our doors to our flagship branch on the island next week.

’While new technology is rapidly changing the way people do their day-to-day banking, support from colleagues in a branch remains crucial for the big or unexpected moments in our customers’ lives, such as buying a home, having children or dealing with a bereavement.

’The new layout and facilities will make it easier for customers to bank with us and get the help and support they need.

’And it is great to finally be able to bring our colleagues together into one office building.’

Mr Gardner previously said: ’This exciting development on such a historic and prominent site marks an important milestone for Lloyds Bank who have been in the island since 1897.’

The Tevir Group owns the Villiers site.

The new branch will include Saturday opening from from 9.30am to 1pm.