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Lloyds Banking Group PLC due to close 100 branches this year

There are 29 Lloyds branches and 15 Halifax locations for the chop in the new plans

Lloyds Banking Group -

Lloyds Banking Group PLC (LON:LLOY) is shuttering 44 more of its bank branches in England and Wales as it says customers are not using them as much.

Following other closures announced by the FTSE 100 group, it is now on course to close 100 branches in 2021, leaving it with 779 branches under Lloyds Bank branding, 560 for its Halifax subsidiary, and 184 for the Bank of Scotland arm.

READ: Lloyds Banking and Barclays tipped to cash in on mortgage boom

Lloyds retail director Vim Maru said there had been much fewer transactions in the last five years at the branches that are due to close.

"Like many businesses on the high street, we must change for a future where branches will be used in a different way, and visited less often," he said.

The bank said a third of the branches for the chop has another branch nearby, with the full list of 29 Lloyds branches being: Berkeley Square (London), Bournemouth Westbourne, Brighton Preston Circus, Brixham, Bromborough, Cardiff Rumney, Cheltenham Bath Road, Church Village, Faversham, Gants Hill, Halstead, Haslemere, Hendon, Henley-on-Thames, Holsworthy, Kempston, Kentish Town, Leeds Horsforth, Mildenhall, Morley, Newport Maindee, Northwood, Oakham, Quinton, Regent Street (London), Sedgley Dudley, Stony Stratford, Tadley and Towcester.

Halifax branches heading for the axe are: Chesham, Cheshunt, Chertsey, Chesterfield Central Pavement, Fleet, Harpenden, Hinckley, Kenilworth, Manchester Cross Street, Market Harborough, Pinner, Plaistow West Ham, Potters Bar, Rugeley and Upminster.

Trade unions criticised the move.

"The decision to further erode its presence within our communities is baffling," said Unite national officer Caren Evans.

"The closure of 44 more bank branches will deny our communities of essential services such as access to cash and experienced highly trained staff. A local ATM is not a suitable alternative to a staffed bank branch."


Quick facts: Lloyds Banking Group PLC


Price: 43.625 GBX

Market Cap: £30.96 billion

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