Lloyds Bank will close two branches in Louth and Brigg as part of a larger plan. This decision reflects the growing trend of customers using online banking services.
Louth: Lloyds Bank is closing 136 branches, including two in Louth and Brigg. The closures will happen between May 2023 and March 2026.
Specifically, Wrawby Street in Brigg will close on March 5, and Mercer Row in Louth will close on May 7. This is part of a larger trend as more customers prefer online banking.
Lloyds has said that all employees at the affected branches will be offered jobs at other locations. They noted that over 20 million customers now use their apps for banking.
Customers can still access banking services through other branches and the Post Office. Lloyds aims to provide more options for everyday banking.
Since February 2022, 1,784 bank branches have closed or announced closures. This averages about 50 closures each month.
In total, at least 289 branches are set to close this year, with more closures expected next year. The LINK initiative helps ensure that vulnerable customers are supported during this transition.
When local banks close, banking hubs or free ATMs are established to help communities.
