Posted: Fri 1st Dec 2023

Lloyds to close its Shotton branch next March

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Friday, Dec 1st, 2023

Lloyds Banking Group has announced an additional 45 branches will close next year, bringing the 2024 total up to 123.

The latest closures include the branch in Shotton, effective 13 March 2024.

The banking group said the decision reflects a broader trend in the banking industry, where digital services are increasingly becoming the norm, leading to a decrease in physical branch visits.

The decision to close the Shotton branch comes after a detailed review of customer banking habits.

Data shows a significant decline in branch transactions over the past five years, with a 47% drop in overall transactions.

In contrast, digital transactions have seen a 4% increase, indicating a clear shift in customer preferences.

The review also highlighted the age demographics of the branch’s customers.

While there is a relatively even distribution across age groups, with 20% of customers aged 18-34 and 31% aged 35-54, the usage patterns suggest a growing comfort with digital banking solutions across these demographics.

Recognising the impact of the closure on the local community, Lloyds Bank has outlined several measures to support customers.

These include the availability of a Community Banker who will visit the area to offer guidance and support.

Additionally, customers are encouraged to use online banking, mobile apps, phone banking, or services available at local Post Offices.

For those preferring in-person services, the nearest alternative branches are located in Mold and Chester, approximately 6.37 and 6.97 miles away, respectively.

Lloyds Bank says it has engaged with the local community to gather feedback on the closure.

The insights from this engagement will be shared in the forthcoming ‘Closing Branch Review Part 2’, ensuring transparency and community involvement in the process.

 

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