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Lloyds and NatWest close more branches

Lloyds Banking Group and NatWest have announced the closure of nearly 200 branches between them as the industry's retreat from the high street continues.

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Lloyds and NatWest close more branches

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Lloyds Banking Group will close 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between May and next March.

The group says its decision is in response to growing use of mobile services, which has seen transactions across these branches fall by an average of 48% over the past five years.

All affected employees will be offered positions elsewhere.

Recently,  Lloyds announced 163 lay-offs in England and Wales as a result of a new branch-sharing plan that will enable customers of Halifax, Lloyds and Bank of Scotland to use any of the group's sites.

Meanwhile, NatWest is shutting 53 of its branches this year, also blaming the shift to digital services.

According to consumer group Which? UK banks and building societies have closed 6,266 branches since January 2015, at a rate of around 53 a month.

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