June 29, 2011 1.44 pm This story is over 152 months old

Two Lincoln Lloyds branches set to close

Shrinking: Lloyds set to close 600 branches in the UK, two in Lincoln and four across the county.

The Lloyds TSB branch located on Bank Street is set to close

Two Lincoln bank premises are to be sold as part of a restructure by Lloyds TSB.

The branches set to be shut are the Lloyds TSB located on Bank Street, and the Cheltenham and Gloucester on the High Street.

A total of six branches will go in Lincolnshire, with the other four located in Gainsborough, Skegness, Louth and Long Sutton.

Lloyds is selling at least 600 branches to help meet obligations under the State Aid Commitments and they will form part of the new Verde Business.

Paul Pester, Chief Executive Officer of the Verde Business, said: “The divestment programme provides us with a unique opportunity to redefine our future.

“This is an extremely exciting time for consumers and UK financial services, as we create a standalone and well-capitalised bank which will be the seventh largest in the UK, serving over 5 million customers and servicing over 8 million accounts.

“The new bank will be a great addition to the UK market and will be focussed on promoting competition and delivering great products and services to its customers.”

The restructure is not scheduled to be completed until 2013, so banking services for Lloyds TSB and Cheltenham and Gloucester customers in Lincoln, including account numbers and sort codes, will remain unchanged at this stage.

Photo: Kelly Moore for The Lincolnite