Lloyds Banking Group announces closure of 49 branches

Caitlin Morrison
Follow Caitlin
Lloyds Bank is closing 49 branches (Source: Getty)

Lloyds Banking Group has announced the closure of 49 branches, blaming a drop in customer visits as consumers instead turn to digital and mobile platforms for banking.

Unite the union said the decision will lead to the loss of 96 jobs.

"Lloyds Banking Group needs to halt this unnecessary bank branch closure program. Local communities are making it clear that the closure of their local branch excludes customers who cannot use digital means to conduct their financial transactions," said Rob MacGregor, Unite national officer.

"Having returned to profitability LBG needs to stop ignoring its corporate social responsibilities. Just over six months ago the bank announced the closure of 100 branches and today another 49 branches. The news today will not be welcomed by staff or the customers left with no access to local banking."

A spokesperson for Lloyds said: "Customers are increasingly choosing to use digital and mobile channels for their everyday banking needs. As a consequence, the number of customers visiting some of our branches has declined in recent years. In response to this, we have confirmed the locations of some branches which will close next year across Lloyds Bank, Halifax and Bank of Scotland."

Branches remain a key part of the service we offer to customers, and we continue to make significant investment in revitalising our network, shaping it to their needs.

Shares in the bank were up more than three per cent at the time of writing.

Related articles