Lloyds Banking Group Set To Close 136 High Street Branches By March 2026

Britain’s largest high-street bank, Lloyds Banking Group, has unveiled plans to shutter 136 branches across its network as part of its ongoing digitalisation strategy. The closure programme encompasses 61 Lloyds branches, 61 Halifax locations and 14 Bank of Scotland sites, with all closures scheduled between May 2024 and March 2026.

The banking giant has committed to protecting jobs through this transition, offering affected staff alternative positions either at different branches or in other areas of the organisation. The move arrives amid a broader shift in consumer banking behaviour, with the group reporting that over 20 million customers now regularly utilise their banking apps for daily financial management.

Statistics reveal a dramatic decline in traditional branch usage, with transactions at the targeted locations plummeting by 48% over the past five years. The latest round of closures will reduce Lloyds’ physical presence to 757 branches, marking a significant reduction in its high-street footprint.

The announcement follows recent organisational changes, including the elimination of 500 positions and the closure of offices in Liverpool and Dunfermline. These measures align with Chief Executive Charlie Nunn’s £4 billion investment strategy, aimed at diversifying revenue streams beyond interest-rate dependent income and enhancing digital capabilities.

Consumer advocacy groups have expressed concerns about the impact on cash access, particularly noting that more than 70% of UK adults still use physical currency at least fortnightly. The Labour government has responded by pledging to expand banking hubs, targeting 350 locations during the current parliamentary term.

These closures contribute to a wider trend in British banking, with consumer group Which? estimating that UK lenders have eliminated more than 6,000 branches over the past decade, fundamentally reshaping the landscape of British retail banking.