LONDON: Lloyds Banking Group will shut 136 branches in the United Kingdom to match customers’ transition to digital banking but will not cut jobs, the lender said on Wednesday.
Lloyds shut several branches in the past few years across England and some in Wales, after the COVID-19 pandemic led consumers to switch to mobile banking, resulting in a sector-wide push to cut back on traditional high-street presence.
The closures will not result in job reductions, Lloyds said, adding that the affected personnel will be offered a role at another branch or part of its business.
The shares of Britain’s biggest mortgage lender were trading 1% higher at 1247 GMT.
The retail bank said it would close 61 Lloyds branches along with 61 Halifax and 14 Bank of Scotland sites between May 2025 and March 2026.
Lloyds said that across all its branches, there were 10 million fewer in-branch transactions in 2024 compared to a year-ago.
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