Derby Road branch of Lloyds Bank in Ipswich to close in August

The Lloyds Banking Group is to close 100 branches, including that in Derby Road, Ipswich.
Photo: An

The Lloyds Banking Group is to close 100 branches, including that in Derby Road, Ipswich. Photo: Andrew Matthews/PA Wire - Credit: PA

The Lloyds Bank branch in Derby Road, Ipswich, is to close in August it has been confirmed – one of 100 sites being axed across the country by the Lloyds Banking Group.

Lloyds, which blames the decision on a fall in the number of over-the-counter transactions as more customers opt to bank online, said the group’s retail division was cutting 325 jobs as part of a restructuring first announced in July last year while 96 new roles would be created.

In all, 54 Lloyds Bank branches are affected, plus 22 Halifax-branded branches and 24 Bank of Scotland branches.

In a statement, Lloyds said: “The group’s policy is always to use natural turnover and to redeploy employees wherever possible.

“Where it is necessary for employees to leave the company, wherever possible, this is achieved through offering voluntary redundancy. Compulsory redundancies will always be a last resort.”

A Lloyds spokesperson said: “The Lloyds Bank Derby Road Ipswich branch will close on August 14, 2017, due to the changing ways customers choose to bank with us.

“We apologise for any inconvenience that this may cause and have informed customers of the closest alternative branch, which is Cornhill North Ipswich.”

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The spokesperson said customers would have their accounts reassigned to the Cornhill North branch, with no other impact on the management of their accounts.

Nearly three-quarters of customers already used other branches, including Cornhill North, and Post Office and cash machine facilities were available within a short walk of the Derby Road site, Lloyds added.

Rob MacGregor, national officer at the Unite, said: “The loss of a further 100 local banks will be painful for high streets across the country to absorb. Unite is angered that another 200 staff have been told that their job will be cut due to their branch shutting.”

“Lloyds Banking Group’s rationale for branch closures is the claimed customer preference towards the use of technology across banking.

“However this simply doesn’t ring true when it’s clear that many customers still value the face-to-face engagement with experienced and knowledgeable bank staff.”

Last month, NatWest, part of the Royal Bank of Scotland Group, announced that its branches in Felixstowe, Woodbridge and Stowmarket are to close in September.