Lloyds Banking Group announced plans to close 136 high street branches by March 2026, including 61 branches each of Lloyds and Halifax, and 14 Bank of Scotland locations. This decision follows a trend of customers opting for digital banking services over traditional in-person transactions. The bank is adjusting to these shifts by enhancing its banking app, which is used by over 20 million customers, while providing alternative access through community bankers and branches of its associated brands. Employees at the closing branches will be offered jobs within the company, emphasizing the bank's commitment to its workforce amidst the changes.
Lloyds Banking Group is to shut 136 more high street branches while accelerating its digital transformation as customers increasingly prefer online banking.
The decision to close branches is attributed to the surge in mobile banking usage, with over 20 million customers relying on apps for financial access.
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