Lloyds Bank has announced plans to shrink hundreds of its branches in size, creating “micro branches”.
The new branches will be staffed by just two people and will use around 1,000 sq ft of space.
They will be created from Lloyds’ existing portfolio by boarding up surplus space in existing branches.
Lloyds’ chief operating officer for retail, Jakob Pfaudler, told the BBC the move has been prompted by a decrease in footfall due to the rise in online banking, and that some branches now feel empty and intimidating for customers.
The micro format has been modelled on an existing branch in Paternoster Square, EC4.
The bank will also open 20 larger branches which will include a full range of facilities as well as a section for entrepreneurs.
The bank previously announced plans to close 400 branches. By the end of the year, Lloyds will be left with around 1,950 branches but it will still have the largest network of high street banks.
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