Lloyds Banking Group will close another 136 more high street branches in a major blow to the high street and scores of customers.
The group will shut 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between May 2025 and March 2026.
The huge announcement comes just weeks Lloyds revamped its high street operations to allow customers of all three banks to use branch across any of its brands for in-person banking.
Lloyds attributed the branch closures to customers increasingly opting for mobile banking over in-person services.
The company said that all employees impacted by the closures would be offered positions in other parts of the organisation.
Once the closure plan is completed, Lloyds will have 386 branches, Halifax 281 branches, and Bank of Scotland 90 branches. Lloyds attributed the closures to a significant shift towards mobile banking over in-person services.
According to the bank, transactions at these branches have dropped by an average of 48% over the past five years as more customers opt for app-based payments.
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 they are making significant strides with their transformation plan initiated in 2022.
Recently, the company announced the closure of offices in Dunfermline, Scotland, and Liverpool, which will affect over 1,000 employees.
Cash access network Link has suggested establishing banking hubs in 21 affected locations to mitigate the impact on customers who will lose local banking services.
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