Analysts believe the cuts at Lloyds will disappoint many customers who rely on a local branch and who genuinely believe the (outrageous) claim the bank makes in adverts that it will always be by their side. But they also say the closures are long overdue in financial terms. Although the bank announced 48 branch closures in October last year, it has been nowhere near as aggressive as rivals in taking an axe to its branches – branded Lloyds, Halifax or Bank of Scotland.