Another Blow to High Street Banking
Lloyds Banking Group has announced the closure of 45 branches as part of its move away from high street banking. The closures include 22 Halifax branches, 19 Lloyds branches, and four Bank of Scotland branches.
Follows Natwest's Decision to Axe Branches
Last week, Natwest confirmed plans to close 19 branches. This brings the total number of branch closures in the UK this year to 623, as banks shift their focus away from the high street.
Lloyds to Shut Branches in Phases
Lloyds will begin closing the bulk of its branches in March and April next year, with additional closures in August and November. In total, at least 276 branches across Lloyds, Halifax, and Bank of Scotland will be shut this year and next.
Barclays Leads in Branch Closures
Barclays has announced the closure of 185 branches, making it the bank with the highest number of closures this year. Lloyds comes in second with 131 closures, followed by Natwest with 116, and Halifax with 94. Other banks, including Virgin Money, Bank of Scotland, and TSB, have also closed a significant number of branches.
