Lloyds accused of trying to bury bad news as it closes 66 more bank branches
- Some cities will lose their last remaining bank as another 66 close next year
- Lloyds has closed 150 branches this year, bringing the total number of branches to more than 400
- Lloyds said visits to the 66 banks had fallen by 60 percent in five years
- Derek French said bosses are ‘falling on themselves’ to shut down big street benches
Lloyds Bank has been accused of trying to bury bad news after it confirmed the closure of a further 66 branches the day Britain was distracted by the heatwave and the Tory leadership struggle.
The move, which was quietly unveiled on Wednesday without a formal announcement as usual, will see dozens of closures next year, with some towns and villages losing their last remaining bank.
It means Lloyds has announced plans so far this year to close 150 branches of its three retail brands: Bank of Scotland, Halifax and Lloyds – bringing the total number of branch closures at major banking institutions this year to more than 400. Some experts believe that number will double by the end of the year.
AXED: Lloyds has now announced the closure of 150 branches this year
According to the consumer group Which? since the beginning of 2015, more than 50 bank branches per month have been hacked.
Derek French, who campaigns for shared banking centers that all customers can use, claimed bosses are “falling over themselves” to close high-street stores before new rules are introduced to protect access to cash.
Russell Galley, consumer relations director at Lloyds, said: ‘We will continue to invest in our sites, but they need to be in the right places where they are put to good use’
A new law, published last week, is likely to pave the way for the Financial Conduct Authority regulator to monitor branch closures and intervene when it believes access to cash is threatened.
Lloyds defended its latest closures, saying that visits to its 66 branches – including 48 Lloyds and 18 Halifax branches – had fallen by an average of 60 percent over the past five years. It insisted that all affected customers will have access to a nearby free ATM or local post offices, and that there will be no forced or voluntary layoffs among its employees who will be moved to another branch or part of its business.
Russell Galley, director of consumer relations at Lloyds, said: ‘As well as our digital, online and telephone services, we will continue to invest in our facilities, but they need to be in the right places where they are put to good use.’