Lloyds takes the axe to more branches

Posted: 19th May 2022

Lloyds Banking Group is to axe a further 28 bank branches, just two months after the bank announced the closure of 60 branches

This latest closure programme will leave Lloyds Banking Group with 1,387 bank branches, with a direct impact on 69 full-time staff roles.

It continues a sustained programme of branch shutdowns from the bank as more consumer chooses to do their banking online.

Vim Maru, group retail director at Lloyds, says: “Branch visits have been falling significantly for several years now, and this trend is continuing.”

In October 2021 LBG announced the closure of 48 bank branches and in June 2021 the closure of 44 local bank branches.

Labour union Unite has branded the latest announcement as “inexcusable”.

Caren Evans, Unite National Officer said: “This news is another example of a bank choosing to walk away from the communities who need access to banking. These closures will leave some customers more than 10 miles from their nearest bank branch. This is a betrayal of some of the most vulnerable, elderly and socially excluded in our communities who need local access to community banking.”

Across the financial services sector over 5,000 bank and building society branches have been shuttered since 2015.

Categories: Banking
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