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Lloyds Banking Group to shut 56 branches by October 2020

Lloyds Banking Group confirmed that it will close 56 bank branches across the U.K., as customer preferences continue to move toward digital banking and reduced dependence on physical branches. 

The group, which has more branches than any other financial institution across the U.K., includes Lloyds Bank, Bank of Scotland, Halifax and several other mortgage, auto finance and wealth management brands. 

"We are committed to having the largest branch network across the U.K. and, in addition to our branches, all our customers can also use the Post Office to access their banking locally, alongside our mobile branches, which visit many rural communities," a Lloyds Bank spokesperson said via email. "We have confirmed that a large number of branches will close between April and October of this year. This is in response to changing customer behaviors and the reduced number of transactions being made in branches."

All of the closing branches have a post office within a half-mile of their locations, and the British Post Office offers a range of banking services, including cash withdrawals, cash and check deposits and balance inquiries. 

Lloyds said it remains committed to maintaining access to cash, which includes providing free ATM access and other ways of getting cash.



 


Topics: ATM Management, ATM & Mobile Banking, Bank / Credit Union, Branch Transformation, Omnichannel Banking, Public Companies, Underbanked / Unbanked

Companies: Lloyds Bank plc


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