Lloyds and Halifax reveal names of dozens of branches to be shut across the UK

Sajid Shaikh
Digital finance editor
A branch of Lloyds Bank in London's West End. Photo: Dinendra Haria/SOPA Images/LightRocket via Getty Images

Lloyds Banking Group (LLOY.L) announced on Wednesday it will close 56 branches across the UK.

The closures will take place between April and October 2020 and see the group shutting 31 Lloyds, 10 Halifax and 15 Bank of Scotland branches.

The immediate number of job losses was not clear, but banking industry union Accord said staff numbers may be cut by “under 80” in affected branches.

The group’s announcement reflects an industry-wide trend of traditional high street banks closing stores as customers increasingly rely on online banking and move to rival app-only banks.

About 55 UK bank branches have closed every month since January 2015, according to a Which? study.

Lloyds’ latest announcement will bring the total number of banks and building society branch closures in last five years to 3,362.

Lloyds said its planned shutdown was part of a store reduction programme in response to changing customer behaviour and the move towards online banking.

READ MORE: UK retailers have 'cut 10,000 jobs already this year'

Growing numbers of customers are also using app-only challenger banks such as Monzo, Starling and Revolut.

Monzo has more than 3 million customers in the UK, and is now valued at over £2bn. Starling has over 1 million customers and Revolut, which operates across Europe, has over 8 million customers.

A Lloyds Banking Group spokeswoman said: “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.

“We have confirmed that a number of branches will close between April and October this year.

“This is in response to changing customer behaviours and the reduced number of transactions being made in branches.”

A spokesperson for Financial services union Accord added: “These are the first closures to be announced since August 2019 and the scale will take some by surprise.

“The overall level of staff reductions expected as a result of the closures is under 80 (full-time equivalent) as many of the staff are expected to be redeployed into other branches. But every branch that closes, however small, has an impact on our members and the bank’s customers.

READ MORE: Banks have paid $36bn in fines since the 2008 financial crisis

It also said so far that all branch closures had been managed without compulsory redundancies, and it expected the same outcome after Tuesday’s announcement.

“We’ll be contacting our members who are impacted by the closures to offer support and representation,” the union added.

Across UK, the north-west has been hit hardest with bank closures, with 424 branches being lost since 2015.

Scotland and the and south-east have had 396 and 400 closures respectively. Wentworth and Dearne in Yorkshire has lost all its bank branches, according to Which?.

List of bank branches closing

Lloyds

– Blaby
– Bournemouth West Southbourne
– Bristol Downend
– Cheadle, Cheshire
– Gerrards Cross
– Hayle
– London Blackheath
– Mumbles, Swansea
– Nottingham Aspley
– Cobham, Surrey
– Cowbridge
– East Dulwich
– Leeds Moortown
– Reddish
– Holmfirth
– Moreton
– Upton-by-Chester
– Worcester St Johns
– Scunthorpe Ashby
– Belvedere
– Newcastle-upon-Tyne Haymarket
– Bristol Hanham
– Acomb
– Market Rasen
– Colwyn Bay
– Calne
– Dursley
– Malmesbury
– Wickham Hants
– Portchester
– Bath Oldfield Park

Halifax

– Billericay
– Boscombe
– Knaresborough
– Marlow
-Locks Heath
– Southsea
– Stoke Newington
– Hull Holderness Rd
– Whitton
– Reading Lower Earley

Bank of Scotland

– Edinburgh Dalry Road
– Edinburgh Greenside
– Edinburgh Liberton
– Edinburgh Tollcross
– Galston
– Loanhead
– Tullos, Aberdeen
– Livingston
– Grantown-on-Spey
– Turriff
– Huntly
– Balfron
– Kinross
– Killin
– Auchterarder