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23 Lloyds branches to be sold to the Co-op

Lloyds Banking Group has agreed to sell hundreds of branches to the Co-op, including 23 in the North East. Four Cheltenham and Glocester branches will also be sold under the deal.

The bank says there will be no changes to customers at those branches until next year, and will communicate with them about the changes. They will be given the option of either moving to the Co-op or remaining with Lloyds.

The branches to be sold in our region are:

  • Amble
  • Bedlington
  • Berwick Upon Tweed
  • Billingham
  • Crook
  • Darlington - Blackwellgate
  • Gateshead - High Street
  • Hebburn
  • Horden
  • Jarrow
  • Malton
  • Morpeth
  • Newcastle - Chillingham Road
  • Newcastle - Milvain
  • Newcastle - St Mary's Place
  • Newton Aycliffe
  • Northallerton
  • Redcar
  • Richmond
  • South Shields - Barrington Street
  • Sunderland - Athenaeum Street
  • Whitby
  • York - St Helen's Square

In addition, there are four Cheltenham and Gloucester branches to be sold:

  • Durham
  • Harrogate
  • Newcastle
  • York

Bank creates 500 new jobs

Taxpayer-backed Lloyds Banking Group has announced 500 new jobs - at a business it's being forced to spin off by European regulators.

Lloyds said it would add five UK support sites - in Gloucester, Livingston, Birmingham, Sunderland and Swansea - to the sale of its Verde business.

Verde already includes 632 branches. The new jobs will be spread across the five sites.

The 40% state-owned bank was ordered by the European Commission to sell Verde because of the £20 billion in state aid it received following the 2008 financial crisis.

The Co-operative Group remains the preferred bidder for the package, Lloyds said, but reports have suggested its suitor has run into difficulties with the City watchdog over a lack of banking expertise on its board.