All of the branches, 22 Lloyds and 18 Halifax, are in England, except one in Bangor in Wales, and they will be closed between April and June this year.

The bank blamed a fall in footfall for the closures and said visits to these branches had fallen by around 60% on average.

It is just one of a number of high street banks closing branches. This week both TSB and Barclays also announced further closures.

The reason given is a rise in online banking and a decline in people needing branch services anymore.

 

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Covid speeds up branch closures

This trend accelerated during the Covid pandemic lockdowns yet there are concerns that many people who rely on branch access will be left without any way to manage their money. Since the start of January 2022, 683 branches have been assessed for closure in the UK, according to LINK.

Lloyds confirmed there would be no job losses following the branch closures. It also said all closures have been made in line with the Access to Banking Standard and FCA guidance.

A Lloyds Banking Group spokesperson said: “Branches play an important part in our strategy but we need to have them in the right places, where they are well used. We’ll continue to invest in branches that are being used regularly, alongside our online, mobile app and telephone services.”