Bank to close 49 branches - putting 1230 jobs at risk

Lloyds said it was axing 49 branches

Lloyds said it was axing 49 branches

The bank said it remained committed to having the largest branch network among banks in Britain, where it operates around one in every five outlets.

The bank has branches across Norfolk and Suffolk including in King's Lynn, Dereham, Norwich, Downham Market, Thetford, Ipswich, Sudbury and Great Yarmouth.

Affected branches will be closed between July and October this year.

"We are also announcing that our mobile branch service will be expanded to support customers in more locations with the introduction of seven new Lloyds Bank mobile branches".

On the job cuts, he said: "The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group".

"Where it is necessary for employees to leave the company, we will look to achieve this by offering voluntary redundancy".

Lloyds Banking Group PLC said Tuesday it will close 49 branches and cut 305 branch jobs, in addition to some other central functions, as part of a previously announced restructuring programme.

The group said the new roles being created comes as part of its pledge to invest £3bn on technology and training staff under a new three-year strategy.

In February the bank announced it had enjoyed a "landmark year", with profit rising by 24 per cent.

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