Lloyds to close 49 branches as Link proposes 11 new banking hubs

Lloyds Banking Group will close 49 high street branches across the UK as part of a wider reshaping of its branch network, and the cash access network Link has recommended 11 new shared banking hubs to maintain local access to everyday banking services, the organisations said this week. The hubs are intended to supplement remaining branches and Post Office services in towns affected by the closures.

Lloyds said the latest round of closures reflects changing customer habits, with millions of customers using mobile apps and online services, and that affected staff will be offered roles at other branches or elsewhere in the business. A spokesperson said, "The way people are banking has changed, with over 21 million customers choosing our apps to manage their money." The group will close 26 Lloyds Bank sites, 10 Halifax and 13 Bank of Scotland branches, leaving it with 705 branches across its three brands.

Link recommended 11 new banking hub locations to help replace services lost to closures: Buxton in Derbyshire, Camborne in Cornwall, Chepstow in Monmouthshire, Deal in Kent, Gorseinon in Swansea, Grangemouth in Falkirk, Harborne in the West Midlands, Hawick in Roxburghshire, Ryde...