The closures, impacting 61 Lloyds, 61 Halifax, and 14 Bank of Scotland branches, will commence in May.

Lloyds stated that transactions at these branches had declined by an average of 48% over the last five years, with customers increasingly utilising the bank’s app for their transactions. The closures will leave the group with 386 Lloyds branches, 281 Halifax branches, and 90 Bank of Scotland locations. All staff affected by the closures will be offered alternative roles within the company.

Consumer advocacy group Which? highlighted that since January 2015, banks and building societies have closed 6,266 branches, averaging about 53 closures per month. The announcement comes on the heels of a government minister’s statement emphasising the necessity of cash access for vulnerable individuals.