Britain's Lloyds Bank to close another 48 branches
Reuters
Published Oct 20, 2021 12:43
Updated Oct 20, 2021 12:55
LONDON (Reuters) - Lloyds Banking Group (LON:LLOY) will close a further 48 branches across England and Wales, the British lender said on Wednesday, as it seeks to further cut costs by trimming its physical network.
The closures are the latest in a string of such moves by the bank, which in June announced the closure of 44 different branches.
Banks have stepped up branch closures after many paused restructuring for much of last year to focus on responding to the COVID-19 pandemic.
"The announcement by Lloyds Banking Group of closing a further 48 bank branches is a complete betrayal of the communities and staff who have long supported this highly profitable business," said Sharon Graham, general secretary of employment union Unite.
Lloyds said it is responding to customers using branches less frequently, and that it is piloting a scheme whereby 'community bankers' visit customers in their areas.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.