Lloyds Bank has announced the closure of its Tooting branch, along with 61 others nationwide between May 2025 and March 2026. In London, six Lloyds branches will close, driven partly by a 48% decline in physical transactions over the past five years, attributable to the rise of mobile banking. The bank will provide job opportunities for affected employees and highlighted that over 20 million customers utilize its banking apps, showcasing a broader trend towards digital banking solutions while maintaining access through various channels including the Post Office.
The bank noted that more customers are opting for mobile banking instead of visiting physical branches, leading to a 48% drop in transactions over five years.
A bank spokeswoman emphasized that customers now have over 20 million app users for instant access to their finances, signifying a shift towards digital transactions.
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