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Last Price$255.95Cboe Real-Time Last Sale as of 1:03PM ET 7/01/22
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Lloyds Banking Group to Shutter 28 More Branches

11:27AM ET 5/18/2022 MT Newswires
Lloyds Banking Group's (LYG) decision to close an additional 28 branches in the UK this year was criticized by the union representing its employees as "inexcusable" Wednesday.

UK Union Unite said the branch closure "is another example of a bank choosing to walk away from the communities who need access to banking." The latest cut comes after Lloyds shuttered 60 other branches earlier this year, according to a Reuters report. The union said that more than 5,000 bank and building society branches have been eliminated since 2015.

"The management is letting down customers and their dedicated workforce," said Caren Evans, national officer of Unite.

Lloyds Group Retail Director Vim Maru said in a statement that "branch visits have been falling significantly for several years now, and this trend is continuing," according to Reuters.

Price: 2.16, Change: -0.02, Percent Change: -0.69