Lloyds Banking Group to close 60 branches as customers continue to bank online

Lloyds Banking Group has said it plans to shut 60 branches across the country, adding to recent closures as customers choose to sort their finances online.

The lending giant said it would close 24 Lloyds branches, as well as 19 Bank of Scotland and 17 Halifax sites.

This is what you need to know.

Why are banks being closed?

A number of different banks have announced large numbers of closures as a result of the growing numbers of customers who have moved to online and mobile banking.

Lloyds Banking Group has said that it has seen a 27% rise in the use of its mobile banking app over the last two years, and a 12% rise in regular users of its online banking system.

Now 18.6 million people regularly bank online and 15 million use the mobile app.

The business’s Group Retail Director Vim Maru said: “Just like many other high street businesses, fewer customers are choosing to visit our branches.

“Our branch network is an important way for us to support our customers, but we need to adapt to the significant growth in customers choosing to do most of their everyday banking online.”

The branches are thought to employ 124 people, but the company has said it would try to find affected staff new roles within the business.

What has the union said about the closures?