A HUNDRED new jobs are set to be created in Chester as part of the new bank.
The news comes after Marks and Spencer announced it intends to create a high street bank out of its M&S Money financial services operation.
Currently 1,400 people are employed at Kings Meadow on Chester Business Park and deal with insurance, loans, credit cards and foreign exchange among their services.
The shift is part of a rebranding of the financial sector of the business to accommodate current accounts.
James Thorpe, spokesman for M&S Bank, said the new roles, which will be open to new and existing staff had been created to facilitate the new banking offer.
He added: “There will be 50 branches across the country offering the service and it will be rolled out over two years.
“We hope to offer mortgages at some point too.
“From next month customers can sign up to current accounts and about 20 stores will be up and running with M&S Bank by the autumn. The lead store will be in Marble Arch.”
Mr Thorpe added: “This is good news for employees in Chester.
“It shows that we are investing in our business and investing in Chester and increasing our staffing population.”