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Lloyds set to close 66 more bank branches this year

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·Business Reporter, Yahoo Finance UK
·3 min read
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Lloyds Bank in London
Lloyds said it now has 19.1 million online banking customers and 15.6 million mobile app users as customers turn to digital services. Photo: Toby Melville/Reuters

Lloyds Banking Group (LLOY.L) has announced that it is closing 66 bank branches between October 2022 and January next year as customers shift online.

It confirmed 48 Lloyds sites and 18 Halifax branches will shut down as part of a wider trend which has seen larger lenders ditch the high street.

Lloyds said it now has 19.1 million online banking customers and 15.6 million mobile app users as customers turn to digital services.

Meanwhile, visits to the branches that are closing have fallen by 60% in the last five years on average, and by 85% in some locations.

The additional closures come just two months after Lloyds already revealed plans to shut 28 branches between August and November this year.

But the lender, which is Britain’s biggest domestic bank, said all staff members will have the opportunity to move to a different branch or another part of the company, and that there will be no compulsory or voluntary redundancies.

It also confirmed that all of the branch locations announced for closure have at least one free to use ATM within half a mile and a Post Office within 1.1 miles.

Once all the announced closures are complete, there will be 646 Lloyds Bank, 510 Halifax and 165 Bank of Scotland branches remaining across the country.

Read more: FTSE 100: Lloyds profit dips as it sets aside £377m to cover loan defaults

“Our customers have more choice than ever in how they bank with us. As our customers do more online, visits to some branches have fallen by as much as 85% over the last five years,” Russell Galley, director of consumer relationships at Lloyds Banking Group, said.

“Alongside our digital, online and telephone services, we’ll continue to invest in our branches, but they need to be in the right places, where they’re well-used.”

It comes as the bank came under fire from trade union Unite in May which said closures are abandoning communities who need access to banking, and putting jobs at risk.

Unite said over 5,000 bank and building society branches have closed since 2015.

The branches that are closing this winter are as follows:

  • Lloyds, Bromyard

  • Lloyds, Chigwell

  • Lloyds, Catterick Garrison

  • Lloyds, Malvern Link

  • Lloyds, Redruth

  • Lloyds, Lutterworth

  • Lloyds, Palmers Green

  • Lloyds, Cheadle

  • Lloyds, Lytham St Annes

  • Lloyds, New Ollerton

  • Lloyds, Paternoster Sq, London

  • Lloyds, Earls Court Rd, London

  • Lloyds, Leadenhall St, London

  • Lloyds, Axminster

  • Lloyds, Barton upon Humber

  • Lloyds, Belper

  • Lloyds, Intake, Sheffield

  • Lloyds, The Moor, Sheffield

  • Lloyds, Tilehurst, Reading

  • Lloyds, New Romney

  • Lloyds, Edgbaston, Birmingham

  • Lloyds, Weoley Castle, Birmingham

  • Lloyds, Billericay

  • Lloyds, Immingham

  • Lloyds, Tonbridge

  • Lloyds, Edgware Rd, Paddington, London

  • Lloyds, Notting Hill Gate, London

  • Lloyds, Sandbach

  • Lloyds, West Wickham

  • Lloyds, Darlaston

  • Lloyds, Purley

  • Lloyds, Aldridge

  • Lloyds, Rothbury

  • Lloyds, Wootton Bassett

  • Lloyds, Guisborough

  • Lloyds, Cheddar

  • Lloyds, Cinderford

  • Lloyds, Cleobury Mortimer

  • Lloyds, Holyhead

  • Lloyds, Wallingford

  • Lloyds, Bishop's Waltham

  • Lloyds, Helston

  • Lloyds, Looe

  • Lloyds, Slaithwaite

  • Lloyds, Welshpool

  • Lloyds, Pwllheli

  • Lloyds, Caldicot

  • Lloyds, Llandrindod Wells

Halifax

  • Halifax, High Holborn, London

  • Halifax, Hitchin

  • Halifax, Ripon

  • Halifax, Stowmarket

  • Halifax, Newry

  • Halifax, Whitchurch

  • Halifax, Dorking

  • Halifax, Mitcham

  • Halifax, Retford

  • Halifax, Tiverton

  • Halifax, Tottenham Ct Rd, London

  • Halifax, Windsor

  • Halifax, Stroud

  • Halifax, Ruislip

  • Halifax, Birmingham

  • Halifax, Rawtenstall

  • Halifax, Coleraine

  • Halifax, Warminster

Watch: How does inflation affect interest rates?

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