Dudley North MP, Marco Longhi, has hit out at Lloyds Banking Group after they announced the closure of 44 more branches, including one in Sedgley.

The closures will take place between September and November and add to 56 already shut earlier this year, taking the total to 100. Lloyds said the latest announcement included 29 Lloyds Bank branches and 15 Halifax sites.

Vim Maru, the group's retail director, said customers had been carrying out "significantly fewer transactions at these locations" over the past five years, while digital banking numbers grow and claimed the business must change for a future where branches will be used in a different way, and visited less often.

Mr Longhi added his voice to that of The Federation of Small Businesses and the trade union, Unite, who said the decision was a "bitter blow" to staff and customers. He said:

“Now is not the time for any bank to be withdrawing from the High Street. Lloyds Bank has been a key beneficiary of taxpayer’s money and I believe they have a duty to support their customer and business base.  

“Given the impact of Covid on our high streets I believe it is wrong and premature to judge the performance of a local branch until more normal times return, and they will. In Sedgley there has been a surge in use by Business customers with a 33% growth last year in Cashpoint use. I have booked a formal meeting with senior management from Lloyds Bank to see what options are available.  

“I want to see our High Streets thrive and ensure vulnerable people continue to have access to banking facilities. Therefore, I have written to the Chair of the Treasury Select Committee to review the hostile approach taken by the bank rather than them actively supporting consumers and small business.” 

Lloyds said that more than a third of closures were of branches in or around cities or large towns with another branch close by. If the move goes ahead, then the nearest branches for customers in Sedgley will be either BIlston, Dudley Town Centre or Wolverhampton.