Britain’s Lloyds Banking Group is shutting down 49 branch offices next year as increasingly large number of customers are shunning branch banking.

The proposed closure, which will be implemented across the Halifax, Bank of Scotland and Lloyds Bank chains, will lead to 99 redundancies.

The banking group has informed labour union Unite about the branch closures on 29 November. The union has demanded Lloyds to ensure there are no compulsory job cuts due to branch closure.

Rob MacGregor, national officer of Unite said: “Lloyds Banking Group needs to halt this unnecessary bank branch closure programme.

“Local communities are making it clear that the closure of their local branch excludes customers who cannot use digital means to conduct their financial transactions.”

In April this year, Lloyds announced plans to shutter nearly 100 branches resulting in loss of more than 325 jobs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The Lloyds group has more than 2,000 branches across the UK, and employs approximately 75,000 people.