Lloyds to Close a Further 56 Branches
January 29 2020 - 10:12AM
Dow Jones News
By Sabela Ojea
Lloyds Banking Group PLC (LLOY.LN) will close 56 branches
between April and October this year in response to changing
customer behaviors and a fall in the number of transactions being
made in branches, the British lender said Wednesday.
The U.K.'s largest retail bank said the closure of the branches
will affect 31 Lloyds branches, as well as 15 Bank of Scotland and
10 Halifax branches.
Lloyds said its customers will still be able to have access to
their accounts through local post offices. It added that it will
continue setting up mobile branches in remote areas.
Accord, the bank's union, said that the scale of the decision
"will take some by surprise" and that "the overall level of staff
reductions expected as a result of the closures is under 80."
Lloyds has closed as many as 152 branches since February 2019,
according to its union, taking the total number to 208 closed
branches by October.
Write to sabela.ojea@wsj.com
(END) Dow Jones Newswires
January 29, 2020 09:57 ET (14:57 GMT)
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