Lloyds Banking Group announces plans to close over 100 high street branches, citing cost-cutting and digitalization efforts. The closures will affect 136 branches across Lloyds, Halifax, and Bank of Scotland brands. The bank emphasizes its mobile banking services and alternative banking options like community bankers and Post Office branches.
Lloyds Banking Group have announced they are to close over 100 more high street branches, in a move to cut costs and digitise the bank. The group will close 136 branches in total, including 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches.
Among the Greater Manchester branches affected are the Lloyds in Farnworth, Bolton, which will close in May. The Halifax in Walkden, Salford, will be next to close in September, followed by Lloyds in Bury and Halifax in Bolton during the autumn. READ MORE: Full list of Lloyds, Halifax and Bank of Scotland branches set to close - including five in Greater Manchester The Lloyds bank in Manchester Moston is then set to close next year. The branch of Halifax in Wilmslow is also set to close in May 2025. The news come weeks after Lloyds said it would allow customers of Lloyds, Halifax, and Bank of Scotland to use stores across any of its brands for in-person banking. The banking giant blamed the decision on customers shifting away from banking in person to using mobile services.A spokeswoman for the business said: “Over 20 million customers are using our apps for on-demand access to their money and customers have more choice and flexibility than ever for their day-to-day banking. “Alongside our apps, customers can also use telephone banking, visit a community banker or use any Halifax, Lloyds or Bank of Scotland branch, giving access to many more branches. “Customers can also do their everyday banking at over 11,000 branches of the Post Office or in a Banking Hub.” The announcement means that 1,784 bank branches have shut or announced their intention to close since February 2022, when a voluntary agreement saw the major banking groups commit to assessing the impact of every closure.At least 289 branches will close this year, with the dates of 19 more closures yet to be confirmed and 19 already announced for next year.The LINK initiative to assess the impact of closures - which was agreed by all the major banks including Barclays, HSBC, Natwest, Lloyds, and Halifax - was set up to ensure vulnerable customers and small businesses were not left behind in the switch to cashless payments and virtual banking. When closures leave communities without any local bank, banking hubs or free ATMs are set up to fill the gap.
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