Lloyds Banking Group has confirmed plans to shut down 45 branches across the UK, affecting customers of both Halifax and Bank of Scotland. The move comes as part of the group's ongoing strategy to adapt to changing customer behaviours, with more people opting for digital banking services.
Which Branches Are Closing?
The closures will impact 19 Halifax branches and 26 Bank of Scotland locations. The decision follows a significant decline in foot traffic, with some branches seeing as much as an 80% drop in customer visits over the past five years.
Why Are Banks Closing Branches?
Lloyds stated that the shift towards online and mobile banking has reduced the need for physical branches. A spokesperson said: "As customers increasingly choose digital channels for their everyday banking needs, we must adapt to meet these changing demands."
What Are the Alternatives?
Customers affected by the closures will still have access to banking services through:
- Nearby branches that remain open
- Post Office banking services
- Online and mobile banking platforms
- Telephone banking support
Lloyds has assured customers that they will receive support during the transition, including guidance on using digital services.
Impact on Jobs
The bank has not disclosed how many jobs will be affected but confirmed that staff will be offered roles in other branches or alternative positions within the group wherever possible.
This latest round of closures follows previous shutdowns, reflecting an ongoing trend in the UK banking sector as institutions continue to reduce their physical presence.
