The decision raises further concerns about the impact of branch closures on elderly and vulnerable customers
Thu, 01/30/2020 – 16:09
Lloyds Banking Group has announced it is axing 56 branches of Lloyds, Halifax and Bank of Scotland.
The group says it is closing 31 Lloyds, 10 Halifax and 15 Bank of Scotland branches between April and October 2020.
The Lloyds group has closed over 400 branches since 2014 when it began a round of cost-cutting.
The closures are expected to result in under 80 job losses with many of the staff expected to be redeployed into other branches.
A spokesperson from Lloyds Banking Group says: “We are committed to having the largest branch network in the UK and, in addition to our branches, all our customers can also use the Post Office to access their banking locally, alongside our mobile branches which visit many rural communities.
“This is in response to changing customer behaviours and the reduced number of transactions being made in branches.”
The decision will raise further concerns about the impact of closures on the elderly and the vulnerable.
When banks close, elderly and disabled customers often struggle to access vital financial services, with those in rural areas the worst affected.
Banks argue that branch closures are necessary as customers are increasingly doing their banking on the internet or over the phone.
Jenny Ross, Which? money editor, says: “The loss of yet more branches to an already devastated network will hit communities across the UK hard, as there is still a clear demand for access to traditional banking services and cash.”
Full list of branches closing
Bath Oldfield Park
Bournemouth West Southbourne
Worcester St Johns
Hull Holderness Rd
Reading Lower Earley
Bank of Scotland
Edinburgh Dalry Road