Lloyds Banking Group has announced the closure of 48 more bank branches, citing reduced usage as the driving factor. The cuts, which will leave the bank with 1,475 branches, could lead to 178 job cuts.
Banks in the UK and across Europe are closing branches and encouraging customers to use digital channels, including mobile banking.
The Covid-19 pandemic, which saw lockdowns force businesses to close customer-facing operations, has speeded up the migration to digital channels.
“Like many other businesses, we’ve seen people using our branches less frequently in recent years, and this decline is continuing,” said Vim Maru, retail director for Lloyds Banking Group.
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Banks in the UK and across Europe are closing branches and encouraging customers to use digital channels, including mobile banking.
The Covid-19 pandemic, which saw lockdowns force businesses to close customer-facing operations, has speeded up the migration to digital channels.
“Like many other businesses, we’ve seen people using our branches less frequently in recent years, and this decline is continuing,” said Vim Maru, retail director for Lloyds Banking Group.
Read more
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