A MAJOR bank in Newport is set to close its doors, it has been confirmed.

Lloyds Banking Group today revealed plans to close 44 of its branches across Wales and England.

Among them is the Lloyds Bank in Chepstow Road, in the Maindee area of the city.

It comes as a major blow to the local high street, and the surrounding area.

Earlier this month, it was revealed that Newport has experienced the biggest fall in bank branch closures in Wales since 2020.

Though it is not known when the Lloyds Maindee branch is set to close its doors for the final time, customers looking for face-to-face banking will have to cross the river into the city centre for the nearest alternatives.

According to bosses at the Lloyds Group, the decision has been made as customers have been “carrying out significantly fewer transactions” at the 44 branches which are closing.

MORE NEWS:

In total, 29 Lloyds Bank branches, and 15 Halifax branches, are expected to close.

What have Lloyds said about the news?

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.

“We’ll continue to invest in our high street presence, as this week we’re opening a new concept Bank of Scotland branch in Edinburgh, the only bank to take up residence in the new St James Quarter.

“Importantly, we’ll continue to give our customers a choice in how they bank, with branches sitting alongside telephone banking, online and mobile banking, our video appointment services, our cashback through local shops programme, our participation in the industry BankHUB cash initiative and 11,500 post offices, at which our customers can bank and access cash.”

Union leader slams news

News of the bank closures across Wales and England has been met with opposition from a major union group.

Unite national officer Caren Evans said: “The decision by Lloyds to further erode its presence within our communities is baffling.

“The closure of 44 more bank branches will deny our communities essential services such as access to cash and experienced highly trained staff.

“A local ATM is not a suitable alternative to a staffed bank branch.

“In recent times Lloyds has spent significant resource to sell its message of ‘Helping Britain Recover’. Unite seriously question how this decision to walk away from local communities promotes this message at a time when the customers will rely on the financial services sector support more than ever.

“Unite does not view the bank branch network as a disposable commodity and the union believes that the branch network has a value far beyond its immediate commerciality. Unite wants to see Lloyds Banking Group invest in the branch network and commit to a meaningful presence in our communities.”

Full list of branch closures

Lloyds branches:

  • Berkeley Square
  • Bournemouth Westbourne
  • Brighton Preston Circus
  • Brixham
  • Bromborough
  • Cardiff Rumney
  • Cheltenham Bath Rd
  • Church Village
  • Faversham
  • Gants Hill
  • Halstead
  • Haslemere
  • Hendon
  • Henley-on-Thames
  • Holsworthy
  • Kempston
  • Kentish Town
  • Leeds Horsforth
  • London Regent St
  • Mildenhall
  • Morley
  • Newport Maindee
  • Northwood
  • Oakham
  • Quinton
  • Sedgley Dudley
  • Stony Stratford
  • Tadley
  • Towcester

Halifax branches:

  • Chertsey
  • Chesham
  • Fleet
  • Harpenden
  • Hinckley
  • Kenilworth
  • Manchester Cross St
  • Market Harborough
  • Plaistow West Ham
  • Potters Bar
  • Rugeley
  • Upminster