NatWest and Lloyds are to axe an additional 81 financial institution branches as each introduced recent cuts to their excessive avenue networks.
Lloyds Banking Group is closing 39 branches – 26 Lloyds Financial institution shops, 9 Halifax branches and 4 Financial institution of Scotland shops – between July and September this yr. NatWest Group mentioned it was shutting 42 branches.
The strikes come days after it emerged that Barclays was closing 14 extra shops.
Each Lloyds and NatWest argued that buyer demand for conventional counter providers was falling as extra individuals used on-line and cellular banking.
The buyer group Which? mentioned on Thursday that UK banks and constructing societies had closed, or introduced the closure of, 5,498 branches since January 2015, at a price of about 54 every month. It mentioned NatWest Group, which contains NatWest, Royal Financial institution of Scotland and Ulster Financial institution, would have closed 1,257 branches by the top of 2023, “essentially the most of any banking group”.
In January this yr, Lloyds introduced the closure of 18 Halifax branches and 22 Lloyds websites. Final October, NatWest mentioned it will be axing 43 branches in the course of the first half of this yr. And on the finish of November, HSBC mentioned it will be shutting an additional 114 shops between April and August this yr.
Lloyds mentioned that as the usage of digital banking had grown, the variety of department visits had fallen. Visits to he 39 branches being axed had fallen by a median of 59% – and a few as much as 69% – within the final 5 years.
A Lloyds Banking Group spokesperson mentioned: “Our prospects are more and more utilizing digital channels to handle their cash – we now have over 20 million common digital customers, so it’s necessary we proceed to develop the net providers our prospects wish to use.”
They added: “Our branches will proceed to be an possibility for our prospects, alongside our phone providers, cellular app and on-line financial institution.”
The entire department areas introduced for closure have a put up workplace and a minimum of one free-to-use ATM close by, mentioned Lloyds.
A NatWest spokesperson mentioned: “We take our accountability critically to assist the individuals who face challenges in shifting on-line, so we’re investing to offer them with assist and alternate options that work for them.”
Full checklist of Lloyds Banking Group closures:
Lloyds Financial institution branches:
Benton, Tyne and Put on
Highbury Nook, London
Cambridge, Chesterton Highway
Hazel Grove, Stockport, Better Manchester
Holborn Circus, London
Threadneedle Road, London
New Mills, Derbyshire
Bridge Road, Downham Market
Porthcawl, south Wales
Withernsea, East Driving of Yorkshire
Newcastle upon Tyne, Newburn
East Horsley, Surrey
Ystradgynlais, Powys, Wales
Emersons Inexperienced Retail Park, Bristol
Denton, Better Manchester
Mirfield, West Yorkshire
Tadcaster, North Yorkshire
Otley, West Yorkshire
Newton Aycliffe, County Durham
Porthcawl, south Wales
Financial institution of Scotland branches:
Bearsden, East Dunbartonshire
Edinburgh Royal Mile
Full checklist of NatWest Group closures:
Aldridge, West Midlands
Queensway, Bletchley, Milton Keynes
Bournemouth CastlePoint Procuring Centre
Brighouse, West Yorkshire
Brighton Fort Sq.
Bristol Queen’s Highway
Croydon Whitgift Centre
Dean Road, London
Fleet Road, London
Harold Hill, London
Heald Inexperienced, Stockport, Better Manchester
Holderness Highway, Hull
New England, Peterborough
New Malden, London
Rothwell, West Yorkshire
Ryde, Isle of Wight
Stony Stratford, Milton Keynes, Buckinghamshire
Stratford Broadway, London
New Road, Birmingham
Tilehurst, Studying, Berkshire
Westbury on Trym, Bristol
Whitley Bay, Tyne and Put on