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Press Release - States of Alderney 'deeply saddened' by the loss of Lloyds Bank branch from January 2023 - 16.06.2022

Date: 16th June 2022

Time: 15:30

States of Alderney 'deeply saddened' by the loss of Lloyds Bank branch from January 2023

The news announced today that Lloyds Bank is to close its Alderney branch at the end of this year will remove an essential part of the Island's fabric and comes at a time when the community is seeking to grow its economy following the pandemic.

Ian Carter, Acting Chairman of the Policy & Finance Committee, said:

"This decision potentially has a devastating outcome for the island on many fronts such as employment, economic activity, immigration and social cohesiveness, particularly among our older residents.

"We are deeply saddened by the news and are seeking the earliest possible face-to-face engagement with the Lloyds team. Our immediate hope is that the Bank will reconsider as Lloyds is a vital part of the fabric of the Island both physically on Victoria Street and through the highly valued staff who discharge their financial responsibilities with skill and diligence, often alongside informal support for their customers.

"We have to acknowledge that this is a commercial decision and we will work with Lloyds and the Chamber of Commerce over the next six months to minimise the disruption this could cause. We are relieved that there will be at least a six-month transition period in which we trust that Lloyds will demonstrate a degree of social responsibility to us as a community."

The Alderney branch closure was announced alongside the closure of St Martin's in Guernsey and Five Oaks in Jersey with an overall loss of 34 Channel Islands jobs. Both Guernsey and Jersey will continue to have two branches after the closures take effect. Lloyds Bank International will seek to redeploy staff wherever possible.

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