Co-operative Bank to close 37 branches

Co-operative bank branch The Co-operative Bank has agreed to take over more than 600 Lloyds branches

The Co-operative Bank has announced it will close 37 branches across the country, with the loss of 34 jobs, mainly at managerial level.

However, the bank will still have a presence in all the towns where the branches close.

The closures are part of an overhaul following the bank's 2009 merger with the Britannia Building Society - whose name will disappear from branches.

The Co-op will have about 300 branches following the closures.

This will rise to almost 1,000 once the deal to take over more than 600 Lloyds Banking Group branches is completed.

About 4.8 million Lloyds customers will eventually be transferred to the Co-op, giving it about 7% of the current account market, under the terms of the deal.

Under the planned deal, 283 Lloyds TSB branches in England and Wales will move over to the Co-op, along with 164 branches of Cheltenham & Gloucester, and 185 Lloyds TSB Scotland branches.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.