Britain's Lloyds Bank consolidates London offices

Reuters

13 June 2024 at 6:20 am·1-min read

General view of signage at a branch of Lloyds bank, in London

LONDON (Reuters) - Lloyds Banking Group will leave one of its London office sites as part of a consolidation into three remaining premises, the British bank said on Thursday.

Lloyds will leave its building at 125 London Wall, in the capital's City financial district, by 2025, the bank said.

The lender's nearby office in Old Broad Street, which it has been refurbishing, will become its new headquarters as the bank looks to upgrade its property estate across Britain and make it more environmentally friendly.

The move comes amid a wider push in Britain's financial sector for banks to reduce real estate costs, after working habits changed during the COVID-19 pandemic.

Banks including HSBC have reduced their presence in the Canary Wharf financial district, in favour of smaller premises elsewhere as more staff work from home.

(Reporting By Lawrence White, editing by Sinead Cruise)

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