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Lloyds and Halifax to close 40 branches across England and Wales

20th Jan 2023 15:18

(Alliance News) - Another 40 bank branches are to be lost from the UK's high streets, as Lloyds Banking Group PLC units announced more closures.

The companies said that the closures of the sites, all but one of which are in England, will take place between April and June.

Banks across the country have scaled back their branch networks.

The number of people using in-person services has been falling for years as more and more people do their banking online.

During the pandemic, this increased, as some of those who had stuck to bank branches were forced to learn how to bank from home.

Lloyds Banking Group, which owns both the Lloyds and Halifax high street bank brands, said the branches to be closed have seen the number of visits drop by about 60% on average in the last five years.

A spokesman said: "Branches play an important part in our strategy but we need to have them in the right places, where they are well-used.

"We'll continue to invest in branches that are being used regularly, alongside our online, mobile app and telephone services."

The bank branches that will close include 18 Halifax sites in Golders Green, north London, Maldon, Essex, and Bletchley, Buckinghamshire, among others.

The 22 Lloyds branches to be lost include those in Dagenham, east London, Ipswich, Suffolk, Twickenham in south-west London and Harrow in north-west London.

The only site not in England is Halifax's Bangor branch, in Wales.

All the branches are within a third of a mile of at least one free-to-use cashpoint and a Post Office, the group said.

The closures will not lead to any job losses, it added.

The latest announcement brings the total number of bank branch closures that have been announced so far this year to 64.

Earlier in the month TSB announced it would be shutting nine sites, and Barclays named 15 for closure.

Rocio Concha, Which? director of policy & advocacy, said: "Whether it's to pay for everyday essentials or to keep track of spending amid the rising cost of living, cash is hugely important for millions of people across the country.

"These bank branch closures are just the latest in a series of cuts to the country's network, inhibiting people's ability to access cash as well as face-to-face banking services.

"The new law to protect access to cash cannot come soon enough, but risks being undermined unless minimum levels of free access to cash are protected, so those who want to use cash don't have to spend their own money to get their hands on it."

source: PA

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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