‘Uncertainty’ in the wake of the EU referendum is a factor in closures.

Lloyds Bank has announced the closure of 200 branches before the end of 2017.

The closures, which will result in 300 job losses, come after the bank released its report for the first half of the year.

It is currently unclear which banks will close as a result of the announcement.

Lloyds has branches in Barnstaple, Bideford, Braunton, Ilfracombe, South Molton, Torrington, Chulmleigh and Holsworthy.

António Horta-Osório, Lloyds group chief executive, said: “We have delivered a good financial performance in the first half with robust underlying profit.

“Our success in recent years has been based on our focus on and commitment to doing the right thing for customers.

“Our strategy of becoming the best bank for customers and shareholders remains unchanged and we will continue to support the economy and help Britain prosper.

“Following the EU referendum the outlook for the UK economy is uncertain and, while the precise impact is dependent upon a number of factors including EU negotiations and political and economic events, a deceleration of growth seems likely.

“The UK, however, enters this period of uncertainty from a position of strength, following continued private sector deleveraging, significantly improved mortgage affordability and low levels of unemployment.

“For Lloyds, our simple and low risk, UK focused, retail and commercial business model, together with the simplification and transformation of the business in recent years, position us well to continue doing the right thing for our customers and deliver strong returns for shareholders.”

The company markets itself as the largest digital bank, with over 12 million online users.

Decisions on which stores will close will be made after reviews are carried out to ensure customers are still able to bank locally.

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