Lloyds announces another 60 branch closures

Lloyds Banking Group announced another 60 branch closures across its portfolio of high-street brands on Wednesday, as the company blamed a lack of customers for the move.

The FTSE 100 firm said the closures would affect 24 Lloyds Bank branches, as well as 19 Bank of Scotland and 17 Halifax locations.

Branches would be closed between June and September., with 124 jobs set to be axed as a result.

Group retail director Vin Maru told Sky News that fewer customers were choosing to visit branches.

“Our branch network is an important way for us to support our customers, but we need to adapt to the significant growth in customers choosing to do most of their everyday banking online,” Maru said.

The new round of branch closures came on the back of Lloyds axing 48 branches in October last year, and 44 just a few months before that in June.

Trade union Unite hit back at the announcement, saying the move would “rip the heart out” of the affected communities.

“Lloyds Banking Group must not be allowed to abandon 60 more local communities where bank branches play an essential role,” said national officer Caren Evans.

“The 124 employees who work tirelessly in their communities are dedicated to serving the banking needs of the most vulnerable who depend on their skilled services.”

Evans said leaving an ATM in place of a “vibrant bank branch” was insufficient for the communities affected.

“The banking sector needs to answer some serious questions about its corporate social responsibilities and the government cannot stand back and allow the relentless closure of banks to continue until no more local banking services remain.”

Unite said the branches set to be closed under the new announcement included Edgbaston, Rushden, Beaconsfield, Chandlers Ford, Colchester St Johns, Cottingham, Knutsford, Liverpool Woolton, Marlow, Lyndhurst, Oxford Summertown, Swanwick, Tiptree, Aylesbury Gatehouse, Shanklin, Shrewsbury Mount Pleasant, Bolton Westhoughton, Poulton-le-Fylde, Morriston Swansea, Chipping Campden, Bradford Thornbury, Smethwick, Buckingham, Birmingham Temple Row, Belfast Shaftesbury, Abingdon, Beccles, Bideford, Dunstable, Finchley Central, Margate, Morriston, Totton, Wokingham, Worcester Park, Yeadon, Devizes, Beaconsfield, Penge, Doncaster Market Place, Halifax Commercial Street, Carluke, Clarkston, Dyce, Dunblane Forres, Edinburgh Barnton, Edinburgh Shandwick, Troon, Alness, Brechin, Kirkcudbright, Innerleithen, Lockerbie, Selkirk, Broxburn, Glasgow Riddrie, Shotts, Stromness and Aberdeen Union St.

At 1315 GMT, shares in Lloyds Banking Group were down 0.83% at 49.82p.