Lloyds Banking Group has confirmed it will close 292 bank branches across the UK in 2025.
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Lloyds, Halifax and Bank of Scotland branches will close, limiting face-to-face banking services for users. In the UK, 45 Bank of Scotland branches, 119 Halifax and 128 Lloyds bank branches have closed or are in the process of closing.
For a complete list of closures including scheduled closure dates, please visit Here.
Post offices are alternatives to in-person banking where remote communities can receive banking assistance. Labor promised to open 350 shared banking centers in the run-up to the election.
While the majority of bank users are familiar with digital banking services, physical access to cash and in-person banking is critical for the underserved communities and the elderly. The mass closures of bank branches could have a negative impact on the local population.
In June 2024, Lloyds Banking Group announced that it would close 60 bank branches during 2024 until the summer of 2025.
Under FCA rules, banks must address liquidity gaps in communities amid mass closures.