As more people bank online, footfall in physical branches has dropped, says Lloyds Banking Group.
Forty more Halifax and Lloyds bank branches will close this year as fewer people need physical sites, the banks' owner Lloyds Banking Group has said.Cost-cutting in the banking sector has led to the closure of thousands of branches in recent years.In its latest announcement, the group said Halifax will close 18 sites, while Lloyds will shut 22 between April and June.The group said there were no job losses as a result of the closures.
The group said the branches to be closed have seen the number of visits drop dramatically in the last five years. They added that all of the branches due to close have at least one free-to-use cash machine or a Post Office within a third of a mile.
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