Lloyds Banking Group is to slash its branch network again with a fresh round of closures affecting Bank of Scotland outlets.
The high-street lender is to shut another 55 branches in the new year, according to reports. The closures, which will take place between January and September 2025, will affect Bank of Scotland branches in Golspie, Langholm, Leven High Street and Montrose.
It is the latest move by Lloyds to reduce its high-street presence in response to dwindling footfall and the growing use of digital banking. In November it announced the closure of branches on Glasgow's Byres Road, Tarbert's Harbour Street bank, Bowmore's Shore Street outlet and the branch in Helensburgh's Shore Road.
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It also said then that its mobile service would be withdrawn from dozens of towns and villages, including sites in Aberdeenshire, Angus, Berwickshire, Dumfries and Galloway, Inverness, Moray, Perthshire, Stirlingshire and Sutherland.
Lloyds, which is also closing further 32 Halifax and 19 Lloyds-branded branches, said today that, on average, transactions in the 55 branches affected by its latest cuts had dropped by 55% in the last five years. It noted that mobile banking is customers' most popular choice when it comes to day-to-day banking.
A Lloyds Banking Group spokesperson said: “Mobile banking is more popular than ever, with over 19.5 million customers choosing our app to manage, maximise and understand more about their money. Alongside our app, customers can bank online, over the phone, at a Banking Hub, a Post Office or by speaking to one of our community bankers.”
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Lloyds noted that customers of the 55 branch locations affected have alternative options for accessing cash nearby, such as a Post Office, or free to use ATM.
It said it will introduce 37 new community bankers to provide targeted banking support where a branch is closing.
More to follow.
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