Three more Lloyds Bank closures on the outskirts of Powys will force some residents to travel even further to access a branch.
Last week, Lloyds Banking Group announced plans to shut another 136 branches by March 2026, including 61 Lloyds, 61 Halifax, and 14 Bank of Scotland locations. Closures will begin in May.
The latest closures include the Ludlow branch in South Shropshire, set to close on May 20, and the Leominster branch in Herefordshire, which will shut on November 18. Pontardawe’s branch in the lower Swansea Valley will also close, on November 19.
This follows a series of Lloyds closures in the region. Llandrindod Wells lost its branch in January 2023 and Ystradgynlais closed in September 2023, while Brecon’s branch shuts on February 11, followed by Presteigne on March 3. Once Presteigne shuts, Powys will have no remaining Lloyds branches.
Lloyds says the closures are due to more customers banking online and via mobile, reducing footfall at branches.
When the Presteigne closure was announced, customers were directed to Ludlow and Leominster - both of which are now also set to close.
After November, the nearest Lloyds branch for Presteigne and Knighton residents will be in Hereford.
Presteigne is a 45-minute drive from Hereford, while Knighton is an hour away.
These distances pose an even greater challenge for those without access to a car.
Lloyds says it plans to introduce community bankers in Leominster, Ludlow and Pontardawe.
Community hits back
Locals in the Presteigne community have been fighting for a banking hub closer to home, across the border in the town of Kington.
Tim Allen, postmaster in Kington, and local resident Dr Marion Evans submitted an application, but it was rejected by LINK for not meeting eligibility criteria. Both have since accused LINK of misunderstanding the role of a country market town and discriminating against the area's “very ageing population profile”.
In their letter to LINK, Mr Allen and Dr Evans said: “While there is a bus service to Hereford, the travel time is approximately one hour from Kington town centre but much longer for some outlying communities. For example, New Radnor to Hereford takes over an hour and a half and necessitates a change of bus. None of this is comfortable for the elderly.”
Communities being left without a bank
Further south, the Pontardawe closure has sparked criticism from the local MP, who called it a “disgraceful decision.”
The closure means the entire Swansea Valley, home to more than 25,000 people, will be without a bank - after Lloyds previously closed the Ystradgynlais branch.
“Entire communities are being left without a bank even within driving distance now,” said David Chadwick, MP for Brecon, Radnor and Cwm Tawe.
“High street banks are treating their customers appallingly, despite making billions of pounds in profit and Labour are failing to rein in the big banks and corporate greed.
“Banks claim to support inclusion, yet they ignore those who need in-person services the most. They have a duty to serve their communities, not just their shareholders.”
Mr Chadwick has vowed to continue pressing LINK and the government for more banking hubs and access to ATMs.
In the House of Commons last week, Mr Chadwick asked Jo Stevens, Secretary of State for Wales, to help him in setting up a banking hub in Ystradgynlais.
He asked Ms Stevens: “Does the Secretary of State agree that banking hubs can be part of the solution?
“Will she support my campaign for a banking hub in Ystradgynlais - the largest town in my constituency?
“The banks closed and left town several years ago, so local residents and businesses face long trips to access cash.”
Ms Stevens said she knows Ystradgynlais well, and would be happy to meet Mr Chadwick to discuss a banking hub.
‘Shame on Lloyds Bank’
Mr Chadwick raised the issue again in a debate in Westminster Hall today.
“Lloyds Banks has decided to close an extra 136 bank branches, despite making £7.5 billion in pre-tax profit in 2023, an increase of 57 per cent,” he said.
“That followed years of tax cuts given to it by the previous Conservative Government. Lloyds has decided to reward its customers by closing its doors to them.
“Shame on Lloyds Bank.
“Banks have been permanent fixtures on our high streets for centuries. The Lloyds branch in Brecon was founded in 1778 and is part of our town’s history.”
‘It’s a scandal’
Sioned Williams, MS for South Wales West and Pontardawe resident, said she was "extremely angry" at the closure news.
"I think it’s a scandal that banks which make huge profits are not obliged to provide services to the communities that have been faithful customers for decades," she said.
“The closure will leave a huge gap in the whole Swansea Valley.”
Ms Williams has called a public meeting at 6pm on Thursday, February 6 at Pontardawe Library to hear residents’ views.
She has also opened a petition opposing the decision, which is available on her website.
A Lloyds spokesperson to the Brecon & Radnor Express: “As many customers now choose to bank through their app or online, visits to our Leominster and Ludlow branches have fallen over recent years. Customers can use the local Post Office for everyday banking and access cash at the nearby free-to-use ATMs. Customers can also manage their money on our app, online, by calling us, or at the new Banking Hub in Leominster once it is up and running.“