Multiple high street banks and building societies are leaving Britain’s high streets in February 2025 as the trend of bank branch closures looks set to continue over the next month.
Lloyds Bank, Halifax and Bank of Scotland are among the financial institutions shutting down locations across the UK in a blow to thousands of customers and the wider economy.
Data from the British Banking Association (BBA) from 1986 to 2012 and the Office for National Statistics (ONS) from 2012 to 2023 highlights that the number of bank branches in operation in the UK dropped from 14,689 in 1986 to 5,745 in 2023.
Furthermore, the number of building society branches in operation slipped dramatically from 6,954 in 1986 to 1,925 in 2023 amid changing consumer habits and the rise of online banking.
Last year, consumer champion Which? sounded the alarm that more than 6,000 bank and building society branches have closed down since 2015, based on the group’s own research.
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Bank branch closures are taking place in February 2025
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Lloyds Bank
Here is a full list of the Lloyds Bank branch closures taking place in February 2025:
- Swindon – February 3
- Kendal – February 10
- Brecon – February 11
- Cranbrook – February 11
- Wadebridge – February 17
- Stow-on-the-Wold – February 17
- Brynmawr – February 17
- St Ives – February 24
- Chesham – February 24
- Liskeard – February 24
- Kenilworth – February 24.
Halifax
Here is a full list of the Halifax bank branch closures taking place in February 2025:
- Thetford – February 4
- Belfast (Castle Court) – February 4
- Kendal – February 10
- Belfast (Connswater Shopping Centre) – February 10
- Gillingham – February 11.
Bank of Scotland
Here is a full list of the Bank of Scotland branch closures taking place in February 2025:
- Golspie – February 4
- Linlithgow – February 18
- North Berwick – February 3.
To mitigate the impact of closures, the Financial Conduct Authority (FCA) has been given new powers over banks and building societies to make sure they do not close locations without ensuring access to physical banking services remain in place.
While the regulator does not have the power to stop closures taking place, the FCA can tell banks to take part in alternative schemes, such as Banking Hubs.
LATEST DEVELOPMENTS:
Total number of bank branches and building societies in the UK since 1986, based on Office for National Statistics (ONS) and British Banking Association (BBA) figures
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However, the rollout of these hubs has been relatively slow so far, according to analysts.
Sam Richardson, deputy editor of Which? Money, said: “This milestone of more than 6,000 bank branch closures in just nine years underscores the seismic shift that has taken place in terms of our banking habits and the character of the British high street.
“While some may hardly notice the closure of their local branch as they seamlessly switch to online banking, for others reliant on face-to-face services, the impact can be disastrous.
“It’s not about halting closures altogether, but ensuring that essential banking services remain accessible to those who still rely on them. It is crucial that the government prioritises opening more hubs quickly, so that people aren’t left behind.”
