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MoneyLloyds Banking Group accused of trying to hide another round of branch closures as 15 more are due to shut

06:15  26 august  2019
06:15  26 august  2019 Source:   thisismoney.co.uk

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Lloyds has been accused of trying to hide the scale of its branch closure programme after identifying another small batch of sites for the chop. The Mail on Sunday understands that 15 more branches – 12 from Lloyds and three from its Halifax division – will shut .

Lloyds Banking Group is set to close a further 15 branches as the business presses on with restructuring efforts. Pedestrians walk past a branch of a Lloyds bank , operated by Lloyds Banking Group on 25 July Eight branches are closing due to there being another branch nearby.

Lloyds Banking Group accused of trying to hide another round of branch closures as 15 more are due to shut © Provided by Associated Newspapers Limited Banks have been cutting their branch networks to cut costs, investing instead in digital services

Lloyds has been accused of trying to hide the scale of its branch closure programme after identifying another small batch of sites for the chop.

The Mail on Sunday understands that 15 more branches – 12 from Lloyds and three from its Halifax division – will shut.

It is the fourth batch of closures by Lloyds this year and means 112 have been announced in dribs and drabs rather than all in one move that may draw more criticism.

Lloyds Banking Group accused of trying to hide another round of branch closures as 15 more are due to shut © Getty Images Banking customers use an ATM machine at a Lloyds Bank in London

Lloyds said that because it makes closure decisions on a case-by-case basis after reviewing footfall, it does not know how many branches would be shut this year.

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Lloyds Banking Group (LLOY.L) is to close a further 15 branches between January and March 2019, a spokeswoman said on Tip: Try a valid symbol or a specific company name for relevant results. "All branches announced for closure will have a Post Office less than half-a-mile away, so customers

CityAM - Lloyds Banking Group today announced the closure of another 15 branches as the steady whittling down of the British bank [ ] “We continue to make a significant investment in our branches and we are proud to have the largest network of branches in the UK.”

But Douglas Ross, MP for Moray, said: ‘I’m bitterly disappointed that Lloyds seem to be approaching this with a drip-drip effect rather than being honest with the public about the significant scale of closures they are proposing across the country.’

Banks have been cutting their branch networks to cut costs, investing instead in digital services.

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Lloyds Banking Group accused of trying to hide another round of branch closures as 15 more are due to shut

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