Lloyds Banking Group to close another 95 branches

Lloyds Banking Group to Close Another 95 Branches

Lloyds Banking Group has announced plans to close an additional 95 branches as part of a broader trend of banks reducing their presence on the High Street. This closure wave includes:

– 53 Lloyds branches
– 31 Halifax branches
– 11 Bank of Scotland branches

These locations will shut down between May 2023 and March 2027. Once this latest round of closures is complete, Lloyds will have 610 branches remaining, reinforcing its position as the largest banking group in the UK.

Reasons for Branch Closures

A spokesperson for Lloyds emphasized that the bank aims to offer flexibility to customers in managing their finances. They noted:

– Customers want the freedom to bank in the way that works for them, highlighting the various options available.
– Over 21 million customers now primarily use Lloyds apps for their banking needs.

This shift towards digital banking has contributed to a decline in foot traffic at physical branches, prompting ongoing closure programs. Recently, Santander also announced it would shut 44 branches, affecting 291 jobs.

The Changing Face of Banking

Despite the trend towards closures, there are some noteworthy exceptions. The UK’s largest building society, Nationwide, has committed to keeping all 696 branches open until at least 2030, despite having closed some in the past.

New concepts, such as banking hubs, are emerging where multiple banks share premises and serve customers collectively. However, the growth of these hubs has not kept pace with the rapid closure of individual branches.

List of Branches Closing

The branches set to close include:

Lloyds Bank:
– Aberdare
– Altrincham
– Birkenhead
– Birmingham (multiple locations)
– Bournemouth
– Bristol (Fishponds)
– Cardiff (Victoria Park)
– City of London (Cheapside)
– Clevedon
– Coalville
– Crowborough
– Daventry
– Didcot
– Ebbw Vale
– Golders Green
– Heswall
– Hinckley
– Hoddesdon
– Honiton
– Horncastle
– Hull (multiple locations)
– Kingswinford
– Lancaster
– Llangefni
– London (multiple locations)
– Lymington
– Moreton-in-Marsh
– Newmarket (Suffolk)
– Norwich (Aylsham Road)
– Reading (Woodley)
– Redhill
– Ringwood
– Sevenoaks
– Southam
– Staines-upon-Thames
– Stoke-on-Trent (Longton)
– Street (Somerset)
– Swansea (Winch Wen)
– Tewkesbury
– Uttoxeter
– Wareham
– Wednesbury
– West Byfleet
– Wolverhampton (Tettenhall)

Halifax:
– Ashington
– Ashton-under-Lyne
– Billingham
– Bognor Regis
– Bridgend
– Cardiff (Roath)
– Chichester
– Chorley
– Croydon
– Cwmbran
– Doncaster (Armthorpe)
– Ellesmere Port
– Goole
– Greenford
– Halesowen
– Horsham
– Leeds (Bramley)
– Liverpool (Hunts Cross Shopping Park)
– London (multiple locations)
– Manchester (Didsbury)
– Mexborough
– Nottingham (Beeston and West Bridgford)
– Shipley
– Skelmersdale
– Southgate
– Sutton Coldfield
– Thornaby-on-Tees
– Torquay (Lymington Road)

Bank of Scotland:
– Aberdeen (Bridge Of Don)
– Balivanich
– Blairgowrie
– Broughty Ferry
– Glasgow (Baillieston)
– Haddington
– Kelso
– Lochgilphead
– Penicuik (John Street)
– Rutherglen
– Stonehaven

As the banking landscape evolves, it’s clear that the move toward digital services is reshaping how financial institutions operate, prompting both challenges and opportunities for customers and banks alike.