Lloyds Banking Group has announced plans to close 136 branches across the UK as part of its ongoing restructuring efforts, citing a continued shift towards digital banking.
The closures, scheduled between May 2025 and May 2026, mark the third major restructuring move by the banking group this year.
The affected branches include 61 Lloyds locations, 61 Halifax branches, and 14 Bank of Scotland sites, revealed Accord, a trade union for staff in Lloyds Banking Group, TSB and other financial services.
According to the trade union, 44 of these closures will occur in areas where another Lloyds Banking Group brand operates nearby, allowing customers to continue accessing in-person services within its network.
Lloyds Banking Group said that its decision reflects evolving customer banking habits, with a growing preference for online and mobile banking reducing the need for physical branches.
The group aims to consolidate its services to enhance efficiency and improve the customer experience across its brands.
The restructuring follows an earlier announcement by Lloyds Banking Group executive Jayne Opperman, who confirmed that customers will soon be able to conduct transactions across all Lloyds, Halifax, and Bank of Scotland branches.
Bristol Pool is expected to see the highest number of closures, with five branches shutting down.
Despite the closures, Lloyds Banking Group has assured that there will be no job losses. Staff from affected branches will be redeployed to other locations or offered roles within different areas of the business.
Consultations with affected employees will begin approximately three months before each branch closure to discuss redeployment options.
Lloyds Banking Group has been gradually reducing its physical branch presence in recent years, particularly following the COVID-19 pandemic, which accelerated the shift towards digital banking.
The bank reported 10 million fewer in-branch transactions in 2024 compared to the previous year, reinforcing its decision to adjust its branch network to align with customer behaviour.
