Lloyds Bank to shrink hundreds of branches in size

Lloyds Bank has announced plans to shrink hundreds of its branches in size, in some cases boarding up the old counter sections. The new “micro branches” will be staffed by just two people, who will help customers to use machines, including pay-in devices. Some of those being converted will be Halifax and Bank of Scotland branches. Lloyds said the reason was “a profound change in customer behaviour”, which has seen more transactions move online. It has already announced plans to close 400 of its branches around the UK, with 9,000 job losses. The micro format, modelled on an existing branch in Paternoster Square in the City of London, will use as little as 1,000 square feet of space.