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Lloyds to cut a further 48 bank branches

Lloyds to cut a further 48 bank branches

Lloyds Banking Group is to close a further 48 bank branches, with a possible loss of 178 jobs.

The move will slash the number of LBG branches from 1,523 to 1,475.

Vim Maru, retail director for Lloyds Banking Group, says: “Like many other businesses, we’ve seen people using our branches less frequently in recent years, and this decline is continuing.

"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 closures have been condenmed by labour union Unite, who describe the plans as a "complete betrayal" of communities and staff.

Sharon Graham, Unite general secretary, says: “This sector needs to start taking their corporate social responsibilities seriously and stop neglecting their obligations to their customers and workforce. Banks are leaving people behind in the rush to close bank branches and force consumers to go cashless to boost their mega-profits. It’s classic example of putting profits before people.

"Unite believes the time is overdue for the banking industry to have a legal commitment to protect access to cash and bank branches, especially in communities blighted by social deprivation. We cannot allow the most vulnerable in our society to continue to be overlooked by the banking sector; bank branches and ATMs are vital public services for us all.”

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