Tag: Wales

Britain’s Lloyds Bank to close another 48 branches, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Lloyds Banking Group will close a further 48 branches across England and Wales, the British lender said on Wednesday, as it seeks to further cut costs by trimming its physical network.

The closures are the latest in a string of such moves by the bank, which in June announced the closure of 44 different branches.

Banks have stepped up branch closures after many paused restructuring for much of last year to focus on responding to the COVID-19 pandemic.

“The announcement by Lloyds Banking Group of closing a further 48 bank branches is a complete betrayal of the communities and staff who have long supported this highly profitable business,” said Sharon Graham, general secretary of employment union Unite.

Lloyds said it is responding to customers using branches less frequently, and that it is piloting a scheme whereby ‘community bankers’ visit customers in their areas.

Follow and connect with us on , Facebook, Linkedin



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,

Britain’s Lloyds to close another 44 branches, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Britain’s Lloyds Banking Groups has announced its plans to further close 44 more branches in addition to its earlier announcements.

Earlier, the group moved to close 56 branches. A total of 100 branches will close over the next 12 months.

Under this phased closure program, 29 Lloyds Bank branches and 15 Halifax branches are to be closed in England and Wales.

The group has cited the consumer shift to online banking during the pandemic for this closure.

Vim Maru, retail director for Lloyds Banking Group, said, “ We’ve also seen our digital banking customers grow by over four million in five years, to almost 18 million, of which 13.6 million also choose to be active app users.”

“Like many businesses on the high street, we must change for a future where branches will be used in a different way and visited less often.” He added.

The Unite union has denounced the move saying the bank was “ Walking away from local communities.”

Unite national officer Caren Evans said, “ The decision to further erode its presence within our communities is baffling.”



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , ,