Lloyds, 43% owned by the Government, said in June that the 164 branch network of C&G would be closed in November as Lloyds focused on building its mortgage intermediary business.

Some 833 full-time positions would have been cut as a result of the closure, with 928 employees losing their jobs. They will now remain in place while the bank considers its options.

A statement from the lender said customers will continue to use the C&G network as usual and that all affected colleagues have been briefed by their line managers.  

A Lloyds spokesperson declined to elaborate on the reasoning behind the review or on a timescale.

C&G was previously a building society before being taken by Lloyds in 1997.

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