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Lloyds to close additional 100 branches

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Lloyds to close additional 100 branches

Lloyds Banking Group Plc said April 5 that it will close a further 100 branches in a move that would complete its planned target of roughly 400 branch closures between 2014 and 2017-end.

The closures, which involve 54 Lloyds Bank Plc branches, 22 Halifax branches and 24 Bank of Scotland Plc, are expected to result in 211 jobs losses. The plan, announced in July 2016, will take place between July and October, City A.M. reported April 5.

A further restructuring within the Lloyds Bank network will result in roughly 200 job losses, although 96 new roles are being created, according to the group.

The branch closures was said to be part of the group's move toward automation of consumer-facing services.