The lender has pointed to the current economic uncertainty and the increasing shift towards online banking as the reason for the cuts. 

As well as jobs lost due to the branch closures, head office and middle management roles will also be lost. 

Co-op Bank said that wherever possible, it would attempt to redeploy staff to different locations, BBC News reports.

Andrew Bester, the bank’s chief executive, said the bank was very sorry for the cuts which he also blamed on the current record low interest rates.

He said: “We’re not immune to the impact of recent events, with the historically low base rate affecting the income of all banks and a period of prolonged economic uncertainty ahead, which means it’s important we reduce costs and have the right-sized operating model in place for the future.

“We are responding to the continuing shift of more and more customers choosing to bank online, with lower levels of transactions in branches, a trend which has been increasing for some time, across the banking sector and more broadly.”

The branches being closed will shut by the end of the year.