IT was just a few weeks ago that it announced profits of more than £5 billion, but yesterday, Tuesday, April 17, Lloyds Banking Group announced plans to cut 305 jobs and 49 branch closures across Britain - fortunately the Crediton branch of Lloyds was not on the list of closures.

In total across the UK, 41 Lloyds Bank branches will close and eight branches of Halifax.

The company, which also owns the Bank of Scotland, said the closures would take effect between July and October.

A total of 305 roles will be placed at risk - however Lloyds said 925 new positions will be created as it continues to expand its "mobile branch" network.

These are smaller "micro" walk-ins, that will be staffed by just two people, and will help customers manage transactions digitally.

A statement read: "Lloyds Banking Group is today announcing 305 role reductions, mainly across our branch network, in addition to some other central functions.

"The changes in roles are in line with our plan to adapt to and meet the changing needs of our customers and as a result we also today announcing the creation of 925 new roles.

"These new roles form part of the £3 billion commitment we have made over the course of our next strategic plan to focus strongly on technology and people, equipping teams with the specific skills to advise and support our customers."

The group announced plans to expand its mobile branch service - with seven new Lloyds Bank mobile branches.

This will bring the total number of mobile branches to 36 which will serve more than 180 communities.

"To put this into context, we are planning our largest ever investment in our people by increasing training hours to 4.4 million hours per year," the statement read.

For those worried they will lose access to their local branch, it said: "All branches announced for closure have a Post Office within short walking distance so customers can still access their banking locally."

Speaking of redundancies, Lloyds group said there are plans to redeploy people wherever possible to retain their expertise.

"Since 2011, over 90 per cent of role reductions have been achieved through a combination of natural attrition, redeployment and voluntary redundancy. Where it is necessary for employees to leave the company, we will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort.

"Today’s announcement involves making difficult decisions, and we are committed to working through these changes in a careful and sensitive way.

"All affected employees have been briefed by their line manager. Accord and Unite were consulted prior to this announcement and will continue to be consulted.

“We are proud to have the largest network of branches in the UK and we are committed to maintaining our market share of one in every five branches.”

In Devon, branches will close at Bovey Tracey, Dawlish, Ottery St Mary and Plymouth Southway.

The Crediton branch of Lloyds Bank at 30 High Street, is open from 9am to 4.30pm on Mondays, Tuesdays, Thursdays and Fridays and from 9am to 4.30pm on Wednesdays.

NATWEST

The Crediton branch of NatWest, it was announced on Friday, December 1, will close on Monday, June 4.

The branch is located at the corner of Market Street and High Street.

Other NatWest branches which were also announced for closure in Devon at the same time were at Axminster, the University of Exeter, Sidmouth, Teignmouth, Okehampton, Ilfracombe, Holsworthy, South Molton, Totnes, Dartmouth, Plympton and Crownhill in Plymouth.

Across the country a total of 259 NatWest branches were announced for closure on December 1.

• Are you concerned about the continuing wave of closures by banks as they continue to strip back their high street presence?

Share your views with fellow “Courier” readers. Write a letter, suitable for publication, with your name, address and a daytime telephone number (not necessarily for publication) to: The Editorial Manager, “Crediton Courier”, 102 High Street, Crediton EX17 3LF.

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