Two Lloyds bank branches in Sheffield set to be closed

Two Lloyds banks in Sheffield are set to be shut down as Lloyds Banking Group announced 49 branch closures nationwide.

The locations in Broomhill and Banner Cross are two of five banks from the Lloyds Banking Group set to close throughout Yorkshire, with the Halifax bank in Guiseley and two further Lloyds locations in Ripon and Hornsea also facing closure.

This comes as part of a wider trend of branch closures across the British banking sector as over 500 banks are set to close before the year’s end.

One of the main reasons said to be behind this increase in branch closures is the rise in mobile banking. According to a report by Finextra, use of mobile banking apps has increased by 356% since 2012 with almost one third of the UK’s population now said to be using these apps.