The firm’s retail director Vim Maru said the move comes as the use of the group’s physical estate continues to decline.
Maru said: “Our branches remain a fundamental part of how we serve our customers but we need to ensure the size of our branch network reflects the number of customers wanting to use them.”
The move is on top of plans announced in June by the company to shut 44 sites. The company has previously said that branch transactions had fallen by 10% per year in the five years to March 2020, and had slumped further since the pandemic hit.
The latest closures are 41 Lloyds Bank sites and seven Halifax ones. These will shut between January and April 2022. See the full list below.
Lloyds Banking Group said those earmarked for closure, over time, “had significantly fewer customers regularly using them. This means, like all banks, the group must continue to adapt for a future where most customers need to visit in person less regularly”.
Once all closures are complete the parent of the lenders will have 738 Lloyds Bank branches, 553 Halifax branches, and 184 Bank of Scotland branches.
The group added that it has around 25 million customers, of which 18 million are active digital banking users, and more than 13 million are regular mobile app users.
The branches announced for closure today are:
BrandBranch name Closing date
LloydsCambridge Cattle Market24/02/2022
LloydsGreat Bridge 17/02/2022
LloydsHull Holderness Rd10/02/2022
LloydsKings Cross 03/02/2022
LloydsMuswell Hill 31/01/2022
LloydsNew Malden 14/02/2022
Halifax Portsmouth North End 22/02/2022
LloydsPortsmouth North End 21/02/2022
LloydsSouth Kensington 31/01/2022
LloydsSt Marys Isle of Scilly 25/04/2022
LloydsWorthing George V Ave02/02/2022