With more customers taking their business online than ever before, major Banks are being forced to rethink their presence on the High Street. Following a raft of recent closures, Lloyds Banking Group has confirmed plans to permanently close a further 66 bank branches by the end of the year.
According to Lloyds, 19.1 million of its customers now use online banking, and around 15.6 million people manage their affairs via the bank’s mobile app. Foot traffic at the bank’s physical branches has been decreasing steadily for some time, resulting in the decision to close another 48 Lloyds sites and 18 Halifax branches over the coming months.
According to Lloyds, the bank has seen a 60% fall in overall branch visits by customers over the last five years, increasing to as much as 85% in some parts of the UK.
However, Lloyds was keen to emphasise the closures will not result in any voluntary or involuntary redundancies, and that all staff members affected will have the opportunity to transfer to different parts of the company.
Lloyds Banking Group will maintain a comparatively strong presence on the UK High Street, with 646 Lloyds Bank, 510 Halifax and 165 Bank of Scotland branches set to stay open for the time being.
Full list of closures confirmed by Lloyds
The full list of Lloyds Bank and Halifax locations set to close during the winter is as follows:
- Lloyds, Bromyard
- Lloyds, Chigwell
- Lloyds, Catterick Garrison
- Lloyds, Malvern Link
- Lloyds, Redruth
- Lloyds, Lutterworth
- Lloyds, Palmers Green
- Lloyds, Cheadle
- Lloyds, Lytham St Annes
- Lloyds, New Ollerton
- Lloyds, Paternoster Sq, London
- Lloyds, Earls Court Rd, London
- Lloyds, Leadenhall St, London
- Lloyds, Axminster
- Lloyds, Barton upon Humber
- Lloyds, Belper
- Lloyds, Intake, Sheffield
- Lloyds, The Moor, Sheffield
- Lloyds, Tilehurst, Reading
- Lloyds, New Romney
- Lloyds, Edgbaston, Birmingham
- Lloyds, Wooley Castle, Birmingham
- Lloyds, Billericay
- Lloyds, Immingham
- Lloyds, Tonbridge
- Lloyds, Edgware Rd, Paddington, London
- Lloyds, Notting Hill Gate, London
- Lloyds, Sandbach
- Lloyds, West Wickham
- Lloyds, Darlaston
- Lloyds, Purley
- Lloyds, Aldridge
- Lloyds, Rothbury
- Lloyds, Wootton Bassett
- Lloyds, Guisborough
- Lloyds, Cheddar
- Lloyds, Cinderford
- Lloyds, Cleo bury Mortimer
- Lloyds, Holyhead
- Lloyds, Wallingford
- Lloyds, Bishop’s Waltham
- Lloyds, Helston
- Lloyds, Looe
- Lloyds, Lewthwaite
- Lloyds, Welshpool
- Lloyds, Pwllheli
- Lloyds, Caldicot
- Lloyds, Llandrindod Wells
Halifax
- Halifax, High Holborn, London
- Halifax, Hitchin
- Halifax, Ripon
- Halifax, Stowmarket
- Halifax, Newry
- Halifax, Whitchurch
- Halifax, Dorking
- Halifax, Mitcham
- Halifax, Retford
- Halifax, Tiverton
- Halifax, Tottenham Ct Rd, London
- Halifax, Windsor
- Halifax, Stroud
- Halifax, Ruislip
- Halifax, Birmingham
- Halifax, Rawtenstall
- Halifax, Coleraine
- Halifax, Warminster
Commenting on the closures, the director of consumer relationships at Lloyds Banking Group, Russell Galley, said that the decision reflected the shifting trends and priorities of the bank’s UK customers.
“Our customers have more choice than ever in how they bank with us. As our customers do more online, visits to some branches have fallen by as much as 85% over the last five years,” said Galley.
“Alongside our digital, online and telephone services, we’ll continue to invest in our branches, but they need to be in the right places, where they’re well-used.”
Elsewhere, Lloyds Banking Group has faced heavy criticism from trade unions and consumer groups, which have accused the company of both putting jobs or risk and leaving some communities with no convenient access to banking.
In total, more than 5,000 bank and building society branches have closed across the UK since 2015, according to trade union Unite.