Lloyds reported 10 million fewer in-branch visits in 2024 compared to the previous year. Credit: William Barton/Shutterstock.

UK’s Lloyds Banking Group is set to shutter a further 136 branches across the UK, citing increasing customer preference for digital banking services.

Despite these closures, Lloyds assured that there will be no lay-offs, with affected staff being offered alternative roles within the company.

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The closures, set to take place between May 2025 and March 2026, will affect 61 Lloyds branches, 61 Halifax branches, and 14 Bank of Scotland sites.

In this regard, a spokesperson stated: “Over 20 million customers are using our apps for on-demand access to their money and customers have more choice and flexibility than ever for their day-to-day banking.

“Alongside our apps, customers can also use telephone banking, visit a community banker or use any Halifax, Lloyds or Bank of Scotland branch, giving access to many more branches.

“Customers can also do their everyday banking at over 11,000 branches of the Post Office or in a Banking Hub.”

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Following the planned closures, the Lloyds brand will operate 386 branches, while Halifax and Bank of Scotland will have 281 and 90 branches respectively.

After the Covid-19 pandemic, Lloyds closed several branches in England and Wales amid increasing shift of customers to mobile banking.

Lloyds, which is the UK’s largest mortgage lender, has also observed a significant decline in in-branch transactions, reporting 10 million fewer visits in 2024 compared to the previous year.

On an average, transactions at these branches have decreased by 48% over the past five years, as customers increasingly turn to the bank’s app for their payment needs.

Earlier this month, Lloyds unveiled a branch sharing strategy, with customers of Lloyds, Halifax, and Bank of Scotland allowed to access services across any branch of the three brands.

The move is aimed at streamlining operations and reducing costs.