Lloyds Banking Group is to cut about 1,600 jobs across its branch network as it continues to shift its business towards online banking.

Some 830 new roles will also be part of the strategy, resulting in a net reduction of 769 jobs.

“We’re introducing a number of new roles and making changes to our branch teams so our customers can see us how and when they want to,” a spokesperson said.

The new jobs will be customer facing and provide services across branches, via video meetings and over the phone.

Lloyds, in common with other major high street banks, has been closing branches across the country.

Subsidiaries of the Lloyds Banking Group include Royal Bank of Scotland and Halifax.

In June the group said it would shut the doors on 21 Lloyds Bank sites, along with 15 Halifax high street branches and 17 Bank of Scotland buildings between September and May 2024.

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