Lloyds Bank to close in Sedgley

Lloyds said that more than a third of closures are branches situated in or around cities and large towns with another branch “very close by”.

It added that across the group’s branches, transactions have fallen 10% a year in the five years to March 2020, and significantly further in the year since.

Dudley North MP, Marco Longhi has spoken of his concern for Sedgley High Street. He said “Now is not the time for any bank to be withdrawing from the High Street.

"Lloyds Bank has been a key beneficiary of taxpayer’s money and I believe they have a duty to support their customer and business base.

“Given the impact of Covid on our high streets I believe it is wrong and premature to judge the performance of a local branch until more normal times return, and they will.

"In Sedgley there has been a surge in use by Business customer (33% growth last year in Cashpoint use).

"I have booked a formal meeting with senior management from Lloyds Bank to see what options are available.

“I want to see our High Streets thrive and ensure vulnerable people continue to have access to banking facilities.

"Therefore, I have written to the Chair of Treasury Select Committee to review the hostile approach taken by the bank rather than them actively supporting consumers and small business.

“I am disappointed at the current approach taken by Lloyds Bank.”

The nearest Lloyds Bank branches are Church Street in Bilston, High Street in Dudley and Queen Square in Wolverhampton.

Vim Maru, retail director for Lloyds Banking Group, said: “We’ve also seen our digital banking customers grow by over four million in five years, to almost 18 million, of which 13.6 million also choose to be active app users.

“This means that, like many businesses on the high street, we must change for a future where branches will be used in a different way, and visited less often."

Customers can still bank and access cash at many post offices throughout the country.