Lloyds will close 60 branches after shifting to online banking

Lloyds Banking Group says it plans to close 60 branches across the country, in connection with the recent closure of customers taking online financial management.

Britain’s largest lender says it will close 24 Lloyds branches, as well as 19 Bank of Scotland and 17 Halifax sites.

Up to 124 employees have been affected, but Lloyds said they would try to find new roles for those employees within the company.

The bank said its mobile banking app usage has grown by 27 percent in the last two years, and its regular users of its online banking system have grown by 12 percent. Now 18.6 million people use online banking and 15 million apps.

Vim Maru, Retail Director, said: “Like many other high street businesses, fewer customers prefer to visit our branches.

“Our branch network is an important way to support our customers, but our customers need to adapt to the significant growth they choose to do in their day-to-day banking online.”

The group currently has 739 Lloyds branches, 553 Halifax branches and 184 Bank of Scotland sites.

Karen Evans, national official at United Union, said: “Lloyds Banking Group must not be allowed to abandon another 60 local communities where the bank branch plays an essential role.

“The 124 employees who work tirelessly in their communities are dedicated to meeting the banking needs of the most vulnerable, relying on their efficient services.

“When a bank branch closes, the heart of the local community is broken and the results are devastating.”

The news follows a few more shutdowns from the bank, which said in October it could shut down 48 sites and announced 44 shutdowns in June last year.

Last week, HSBC said it would close 69 branches this year, while NatWest Group said it would close 32 branches.

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