Lloyds Banking Group is closing 136 branches, including Lloyds, Halifax, and Bank of Scotland sites, between May 2023 and March 2026. This decision reflects the increasing consumer shift to digital banking, with over 20 million users accessing services through apps. While affected employees are offered alternative positions, the reduction brings the total to 756 branches. Critics suggest that closing physical locations could harm local businesses and hurt those who depend on in-person banking services, highlighting the growing challenge of balancing digital growth with community needs.
The shift to online banking provides more choice and flexibility than ever, but closures may negatively impact high street footfall and local businesses.
The decline in bank branch usage is inevitable in a digital era, yet banks risk excluding elderly and vulnerable customers who depend on face-to-face services.
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