Lloyds Banking Group announces closure of 136 high street branches
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 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.
It said that all workers at the affected branches will be offered jobs elsewhere in the company.
The closure plan will bring the Lloyds brand down to 386 branches, Halifax down to 281 branches and Bank of Scotland to 90 branches once completed.
Lloyds blamed the decision to shut the branches on customers shifting away from banking in person to using mobile services.
Transactions across these branches fell by an average of 48 per cent over the past five years as customers used its app more for payments, Lloyds said.
A spokeswoman for Lloyds 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.”
The group said it is making “good progress” with its transformation plan, launched in 2022.
Earlier this month, the company revealed plans to shut offices in Dunfermline, Scotland and in Liverpool.
The move comes after Lloyds confirmed in November last year that it is planning to close down its Sheffield office in 2026, which currently houses around 700 staff.
Though no role reductions are expected as part of the closure, The Yorkshire Post understands that around 20 per cent of Lloyds staff currently based in the building will transfer to the company’s Leeds office, with the remaining 80 per cent expected to work remotely by the time the Sheffield site closes. The office is located at Furnival Court, close to Sheffield city centre.