Finance
Lloyds to shut 136 branches in UK amid digital banking shift
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Lloyds Banking Group will close 136 UK branches due to a shift towards digital banking. No job losses are expected as staff will be reassigned.
(Reuters) -Lloyds Banking Group will shut 136 branches in the United Kingdom to match customers' transition to digital banking but will not cut jobs, the lender said on Wednesday.
Lloyds shut several branches in the past few years across England and some in Wales, after the COVID-19 pandemic led consumers to switch to mobile banking, resulting in a sector-wide push to cut back on traditional high-street presence.
The closures will not result in job reductions, Lloyds said, adding that the affected personnel will be offered a role at another branch or part of its business.
The shares of Britain's biggest mortgage lender were trading 1% higher at 1247 GMT.
The retail bank said it would close 61 Lloyds branches along with 61 Halifax and 14 Bank of Scotland sites between May 2025 and March 2026.
Lloyds said that across all its branches, there were 10 million fewer in-branch transactions in 2024 compared to a year-ago.
(Reporting by Yamini Kalia in Bengaluru and Sinead Cruise in London; Editing by Arun Koyyur and Emeia Sithole-Matarise)
Lloyds Banking Group will close 136 branches in the United Kingdom.
No, Lloyds stated that the closures will not result in job reductions, and affected personnel will be offered roles at other branches.
The COVID-19 pandemic has led consumers to switch to mobile banking, prompting a sector-wide push to reduce physical branches.
The closures are scheduled to occur between May 2025 and March 2026.
Lloyds reported that there were 10 million fewer in-branch transactions in 2024 compared to the previous year.
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