Home Business NewsBusiness Lloyds Bank set to downsize hundreds of branches

Lloyds Bank set to downsize hundreds of branches

by LLB Reporter
3rd Apr 17 7:26 am

Here’s what’s going to happen

Lloyds Bank is set to downsize hundreds of its branches in size, it emerged today.

The bank is likely to resort to boarding up the old counter sections and launching new “micro branches” which will be staffed by just two people.

The two staff memberswill help customers to use machines, including pay-in devices.

The changes come amid “a profound change in customer behaviour”, which has seen more transactions move online.

It has already announced plans to close 400 of its branches around the UK, with 9,000 job losses.

“We have a lot of branches that used to have a lot of footfall, and therefore feel quite empty and intimidating for customers,” said Jakob Pfaudler, Lloyds’ chief operating officer for retail.

“So when there’s too much space we may board up places in existing branches.”

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