Lloyds plans new mini-branches with more machines: Report

Lloyds Banking Group is, reportedly, planning to establish new mini-branches across London with more machines and less employees, according to City AM.

Lloyds Banking Group is, reportedly, planning to establish new mini-branches across London with more machines and less employees, according to City AM.

The new strategy is part of Lloyds’ plan to lower operational expenses, and increase its presence in London to bolster customer base.

Due to growing popularity of mobile and internet banking channels, customers visit to bank branches has come down significantly.

A Lloyds spokesman was quoted by the news agency as saying, "In February 2012 we committed to keeping the same number of branches on a net basis over three years."

"We also committed not to close a branch if we are the last one in a community. We will provide an update to next steps in due course. Currently, no decisions have been made," the spokesman added.

Lloyds plan comes after Barclays revealed its intention to open branches in Asda stores, while closing the traditional offices.