Lloyds Banking Group Expected to Close 130 Bank Branches: Report

Lloyds Banking Group is expected to close over 130 bank branches as it continues to downsize due to fewer customers utilizing physical locations.

In a report by SkyNews, Lloyds Banking Group is said to be shuttering 61 Lloyds, 61 Halifax, and 14 Bank of Scotland locations beginning in May and ending in March of 2026.

The report noted few details beyond the fact that customers were moving away from physical branches – a phenomenon that has been happening for years now as Fintech takes over.

Last November, Lloyds Bank foreshadowed the ongoing strategy of closing expensive bank branches, responding to customer use while cutting costs. Consumer relationships CEO Jayne Opperman said, “Nowadays, mobile banking is the way customers prefer to bank. And we expect it to grow in the months and years ahead.

“Of the 22 million customers banking with us online, over 20 million choose mobile banking, making us the UK’s biggest mobile bank. Last year alone we saw around six billion logons to our mobile app and internet banking. By next year we expect this to be over seven billion logons – just shy of the world’s population. 

Breaking that down, that’ll be 23 million of our customers logging on around 300 times a year – so almost every day. Only social media platforms see more engagement on their apps in the UK than we do.”

While branches are closing, Lloyds Bank says it is adding new features to its mobile app by the month, “putting the power of finance in peoples’ hands.”

A mobile-first strategy was described as a responsibility.

Lloyds Banking Group will announce full-year results on February 20, 2025.



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