Lloyds to close C&G branches

Lloyds Banking Group is to close all of its Cheltenham & Gloucester branches in November putting over 900 jobs at risk.

The group says the C&G brand will remain, adding that it will focus on building the brand’s “significant” savings direct, mortgage and intermediary businesses.

C&G customers will be able to manage their accounts through Lloyds TSB branches.

Lloyds Banking Group has already axed nearly 3,000 jobs since Lloyds TSB merged with HBOS last year. The group has had to cut costs after taking on about £11bn in losses from HBOS.

In April, the group announced a review of its £65m media accounts for the Lloyds TSB and HBOS brands. The respective incumbents, ZenithOptimedia and Vizeum are repitching alongside OMD and Mediaedge:CIA.

The news of C&G branch closures follows Santander’s announcement last month that it is to rebrand all Abbey, Alliance & Leicester and Bradford & Bingley brands under its name.

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