Lloyds Banking Group is one of many UK banks that has seen a major number of branch shutdowns over the last few years. However, the bank is not over yet, as it recently confirmed that it plans to close 292 more branches across the country next year, in 2025.

New Branch Shutdowns To Follow In 2025

The switch to online banking across the UK has been going on for years now, and the banks have determined that their numerous branches are no longer necessary. They are not seeing nearly enough visitors to justify their existence in major numbers, which is why each bank has been closing hundreds of branches every year for some time now.

It appears that the trend will continue in 2025, according to not only Lloyds, but also Halifax and Bank of Scotland, as each of them will be shutting down branches and limiting in-person banking services for users.

Bank of Scotland intends to shut down 45 additional branches, Halifax will close the doors on 119 branches, and as many as 128 Lloyds bank branches have been closed, or are currently closing in the UK. The full list of branches that will be shut down by all three banks can be seen in the Edinburgh News report published yesterday, September 12.

In-Person Banking Is Still Required Across The UK

While online banking has been one alternative to in-person banking that younger generations of UK users have switched to, many are now using post ffices as an alternative which provided banking support to cut-off communities.

However, this might only be a temporary solution, as Labour pledged to open 350 shared banking hubs in the lead up to the election. This could be beneficial to those not comfortable with digital banking services, but, on occasion, even those who find digital banking services preferable might have the need to visit a physical banking location.

The underbanked communities and the elderly find this kind of access absolutely crucial, so while the banks themselves do not see the need to keep their branches afloat, the minority that still needs them will have an alternative.

As for banks like Lloyds Banking Group, the number of branches that are being shut down seems to be on the rise. Earlier this year, in June, the Group said that 60 bank branch closures would take place in 2024, until the summer of 2025.

Now, the banking group says that the figure would be much higher for the next period. However, they will also have to address osme issues, according to the FCA rules, such as cash gaps in communities that are already becoming evident as a consequence of mass shutdowns.