Lloyds announces closure of Suffolk branch leaving town with just one bank

Lloyds is to close its Mildenhall branch 

Lloyds is to close its Mildenhall branch - Credit: Google Maps

Lloyds is to close its branch in Mildenhall as part of changes to its business, with the town's mayor saying the loss is "disappointing". 

The branch, located in the town's High Street, will be one of 44 branches that will close. 

Lloyds attributed the closures to changes in the way people bank with more people going online rather than using high street branches. 

Vim Maru, retail director for Lloyds Banking Group, said: “We’ve also seen our digital banking customers grow by over four million in five years, to almost 18 million, of which 13.6 million also choose to be active app users.

“This means that, like many businesses on the high street, we must change for a future where branches will be used in a different way, and visited less often.

“Importantly, we’ll continue to give our customers a choice in how they bank, with branches sitting alongside telephone banking, online and mobile banking, our video appointment services, our cashback through local shops programme, our participation in the industry BankHUB cash initiative and 11,500 post offices, at which our customers can bank and access cash.”

Mayor of Mildenhall Jane Busuttil

Mayor of Mildenhall Jane Busuttil said that it was disappointing that the branch would be closing - Credit: Jane Busuttil

Mayor of Mildenhall, Jane Busuttil, said the news was "disappointing" for the town. 

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"It's just a huge shame for their customers who are not mobile or digitally excluded," said Mrs Busuttil. 

She said there was a concern that the town could be left without a bank altogether.

The closure leaves the town with just one bank remaining, a Barclays. 

However, in October 2019 Barclays said that it would only be guaranteeing the branch's safety for two years. 

It's unclear if the branch will close after this time. 

"Let's hope it doesn't come to that," said Mrs Busuttil. 

"Mildenhall is a growing market town and it needs facilities."

Mrs Busuttil said that the town council would be discussing the issue when it meets on Thursday.