173-year-old bank is closing its branches

UK-based Lloyds Banking Group has decided to close a total of 26 bank branches across England, Wales, and the Isle of Wight throughout October. Of the branches to be closed, 23 are Lloyds Bank locations, while 3 are branches of the group's Halifax brand.

It was stated that the closure process will begin on October 1 with the Lloyds branch in Rochdale and will continue gradually until the end of the month. The decision was reportedly made due to customers increasingly preferring online and digital banking channels.

This move is also considered a significant turning point for the 173-year-old Halifax brand. Halifax customers' accounts are planned to be transferred to the Lloyds system by November 1. Following the closure of the physical branches, it was reported that Halifax will continue its operations via internet banking.

While pointing to changing customer habits, the bank's management emphasized that alternative service channels will continue to be offered for customers who wish to conduct face-to-face transactions.

News Source: 12punto