Lloyds Banking Group announced the closure of its Hornchurch branch on September 11, amidst a broader strategy affecting 61 branches across the UK. The decision stems from a significant shift in customer banking habits, with over-the-counter transactions declining by 43% since 2019. Lloyds noted that most customers have migrated to mobile and internet banking. The Hornchurch branch, which serves about 822 customers monthly, primarily caters to an older demographic. Alternatives include nearby banking facilities such as Halifax and other services like the Post Office.
Before we close any branch, we look at how our customers are managing their money and using the branch. Most customers are now using our mobile banking app.
Lloyds said that customers who use the Hornchurch branch are 'already banking in other ways', and that transactions over the counter are down 43 per cent on 2019.
A total of 822 customers regularly use this branch each month, with almost a third of personal customers aged between 55 and 74.
Lloyds Banking Group announced today that it plans to close 61 branches across the UK in an initiative to cut costs and transition to online banking.
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