January 29, 2020 - 1124 views
The Colwyn Bay community has been dealt a blow with news that Lloyds Bank is deserting the town in the summer.
According to figures released by the bank earlier today, the decision to close has been made on a number of factors which have been taken into consideration.
Compared to a typical Lloyds branch, Colwyn Bay branch customer's useage has fallen by 62% and 43% by business account holders. There are now 15% less counter transactions than a year ago.
The closure is part of a national programme to reduce the number of branches now that internet banking and other alternative ways of transacting are possible.
Colwyn Bay is set to close in June with existing customers urged to visit the Llandudno branch instead.
Lloyds say, "Branches will remain vital in meeting customers’ needs but we must continually review our network to make sure we have branches in locations where customers need and use them the most.
"As a result, we’ve made the difficult decision to close this branch because customers are using it less often. In addition the majority of customers are also using alternative ways to bank.
"Customers can continue to use any other Lloyds Bank branch and the nearest alternative is the Llandudno branch. You can also use your local Post Office for many everyday banking transactions".
