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Lloyds Banking Group to close 60 branches

By Hannah McGrath

Lloyds Banking Group has confirmed plans to close a further 60 branches across the UK as customers continue to switch to online banking.

The Group will close 24 Lloyds Bank, 19 Banking of Scotland, and 17 Halifax branches, with a loss of 124 jobs.

Lloyds Banking group said that a record number of customers are using online and digital services in 2022, 18.6 million regular online banking customers and over 15 million mobile app users.

These have increased 12 per cent and 27 per cent respectively in the last two years.

The bank said it was vital the Group adapts to this trend as customers continue to choose online and mobile banking more frequently than visiting a branch.

The group currently has 739 Lloyds Bank branches, 553 Halifax, and 184 Bank of Scotland across the UK.

In a statement announcing the move, Vim Maru, group retail director of Lloyds Banking Group said: “Just like many other high street businesses, fewer customers are choosing to visit our 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.”

Last week HSBC also announced the closure of 69 bank branches across the UK.

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