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Lloyds Banking Group is reportedly set to close another 136 of its branches as it aims to adapt to customers’ shifting preferences for online banking, in what is another blow to the UK high street, according to the Financial Times.
Reports suggest the group will close 61 Lloyds branches, 61 Halifax branches and 14 of its Bank of Scotland branches between May 2025 and March 2026.
It is thought that employees affected by the decision will be offered other roles in the business or at another branch.
The news is an unwanted one for UK high streets with shoppers seemingly cutting back on their in-person visits.
Last year total UK footfall in 2024 was down 2.2% compared with 2023, with December – normally a period of peaking trading the festive period rush, down 2.7% YOY.
A Lloyds Banking Group spokesperson said: “Over 20 million customers are using our apps for on-demand access to their money and customers have more choice and flexibility than ever for their day-to-day banking. Alongside our apps, customers can also use telephone banking, visit a Community Banker or use any Halifax, Lloyds or Bank of Scotland branch, giving access to many more branches. Customers can also do their everyday banking at over 11,000 branches of the Post Office or in a Banking Hub.”
