Lancashire branches on Lloyds ‘hitlist’

Lloyds Banking Group
Lloyds Banking Group
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A number of Lancashire bank and building society branches will be affected by the Lloyds Banking Group’s plans to slash 9,000 jobs.

The group is to sell off 200 branches under a new strategy it claims will improve efficiency and customer service.

The planned closures spell an end to its commitment to be the “last bank in town” and represent around a tenth of its network of 2,000 sites.

Lloyds will invest in remote advice services for customers while they will increasingly be expected to use online banking or self-service facilities within branches instead of dealing with staff face to face. Meanwhile, the group announced a 41 per cent rise in underlying profits for the third quarter to £2.2bn and said it remained confident in its plans to resume dividend payments after six years.

Chief executive Antonio Horta-Osorio said: “The business is performing strongly and we are well positioned to continue to support and benefit from UK economic growth.”

Bottom line pre-tax profits were £751m, after taking into account extra money set aside to pay for the Payment Protection Insurance scandal.