Lloyds Banking Group is to shut 136 more high street branches as it accelerates plans to cut costs and digitise the bank. It will close 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between May this year and March 2026.
The closure plan comes just weeks after Lloyds shook up its branch business to allow customers of Lloyds, Halifax and Bank of Scotland to use stores across any of its brands for in-person banking.
Lloyds blamed the decision to shut the branches on customers shifting away from banking in person to using mobile services.
It said that all workers at the affected branches will be offered jobs elsewhere in the company.
A spokesperson 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.”
However, consumer campaigners raised concerns about access to physical banks being "cut to the bone". Sam Richardson, deputy editor of Which? Money, said: "More people are banking digitally nowadays, but there remains a significant minority of consumers across the country who still rely on bank branches to access vital face-to-face services.
"The UK's bank branch network has been cut to the bone in recent years, often leaving people struggling and having to travel long distances to access cash or banking services.
"It's therefore vital that banking hubs are rolled out quickly so consumers can feel their effects. The government has committed to opening 350 hubs in the next few years - and it should be prepared to revise that figure upwards if necessary."
Twenty out of 22 new hubs announced by cash access and ATM network Link stemmed from local bank branch closures, with two others – Penistone in Yorkshire and Knutsford in Cheshire – due to requests made from within the community.
A banking hub is a shared space on the high street that can be used by customers of different banks. The government has set a target to roll out 350 hubs by 2029.
