Lloyds Banking Group is planning to shutter 60 branches across the UK, which will impact 124 roles. 

As per media reports, the banking group has decided to close 24 Lloyds Bank branches, 19 Bank of Scotland branches and 17 Halifax branches as customers are moving towards the online mode of banking. 

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Over the last two years, Lloyds Banking Group has recorded a 27% rise in the use of its mobile banking app and a 12% increase in online banking. 

18.6 million customers of the group regularly bank online and 15 million use the bank’s mobile app, it said. 

Regarding the job cuts, the firm said it would try to employ the people affected by the closure, which is expected to happen between June and September. 

Lloyds Banking Group retail director Vim Maru said: “Just like many other high street businesses, fewer customers are choosing to visit our branches. 

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.

“Our branch network is an important way for us to support our customers, but we need to adapt to the significant growth in customers choosing to do most of their everyday banking online.”

Currently, the group operates 739 branches of Lloyds Bank, 184 branches of Bank of Scotland and 553 Halifax branches.

Unite national officer Caren Evans said: “Lloyds Banking Group must not be allowed to abandon 60 more local communities where bank branches play an essential role. 

“The 124 employees who work tirelessly in their communities are dedicated to serving the banking needs of the most vulnerable who depend on their skilled services.

“When a bank branch closes the heart of the local community is ripped out and the results are devastating. Unite is clear that simply leaving an ATM in place of a vibrant bank branch is wholly insufficient.”

As part of the digital banking push, Lloyds Banking Group axed 48 bank branches in October 2021 and 44 branches in June 2021.