Home » UK Business & Employment News • UK Business News » Barclays, Lloyds, Halifax, and Bank of Scotland to close 63 branches
Barclays, Lloyds, Halifax, and Bank of Scotland to close 63 branches
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Barclays, Lloyds, Halifax, and Bank of Scotland have announced the closure of 63 branches, further reducing banking services on high streets across the UK.
The closures, scheduled for later this year or early next year, are a response to the increasing preference for online banking over branch visits.
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Barclays will be closing 10 branches, and Lloyds plans to shut down 21 Lloyds Bank sites.
Similarly, Halifax announced the closure of 15 branches, and Bank of Scotland will close 17 branches between September and next May.
The UK's banking network is rapidly closing branches as more people opt for online banking as their primary choice, significantly reducing visits to physical branches.
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Lloyds reported a significant decline in branch visits, with a 55 percent average drop in the last five years.
It is because more than 20 million customers now regularly use online banking across their brands.
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