An MHK says some of his constituents are distressed after news of more bank closures.

Lloyds Bank has announced two of its branches are set to close at the start of next year.

It confirmed that there would be no job losses.

The bank announced earlier this week that its branches in Castletown and Peel are set to close in January 2020.

A Lloyds spokesman said that the decision was due to declining transactions as more people bank online.

He said: ’We have made the difficult decision to close the Peel and Castletown branches in January 2020, due to the changing ways customers choose to bank with us which has resulted in these branches being used less often.

’We apologise for any inconvenience that this may cause. In the Isle of Man, Lloyds Bank customers will still have two remaining branches, which are located in Douglas and Ramsey.’

Arbory, Castletown and Malew MHK Jason Moorehouse said he respected that the world of banking was changing but warned that while the number of people may be small, ’for each of these people the change is incredibly significant’.

Mr Moorhouse added: ’The digitally excluded group who prefer to use cash to fund their daily transactions are the group who are really being affected.

’I have been contacted by several constituents who have been loyal customers for over 50 years and are really quite distressed by the change which is being imposed on them.’

He also revealed that he has been in discussions with the bank to see how services could be accessed for customers in the south of the island.

Mr Moorhouse added: ’The proposed closures will impact on the lives of many people and I have been in contact with both the Isle of Man Post Office and Lloyds Bank to see whether the provision could be made available at Castletown Post Office. This possibility is currently being looked at.’

Castletown commissioner Colin Leather told the Manx Independent that he wants the matter to be discussed at the local authority’s next board meeting ’so that we can show that we are supporting our residents that are going to be affected by the actions of people in Jersey who have no interest in Castletown’.

Mr Leather called on the town to ’put up a fight’ to keep the branch, fearing the remaining banks may also consider closures.

He added: ’Lloyds still get the financial benefit of customers that use the internet just as they do from those that use the branch. The number of Castletown customers using the net should be taken into consideration when evaluating the branch.

’The mere fact that there is local branch gives the internet users confidence that if it is necessary they can go into the branch to sort out any problem that they might have.

’This is a profit making decision. It is time banks and other organisations realise that they have a moral duty to support local communities that give them the profits that they greedily seek.’

Deputy chairman of Peel Commissioners Ian Davison said it was a great shame for the town to lose the bank and that it was a sign of the times.

Mr Davison added: ’Anything that’s going to take away from Peel is not good for business. We want to encourage business in the town centre and this takes away from that.’

Lloyds is not the only bank to have closed branches in recent years.

All banking groups in the island have either closed or shortened opening hours in several towns and villages.

Since 2013, the Isle of Man Bank has closed branches in Kirk Michael, Onchan, Laxey, Prospect Terrace in Douglas and Ballasalla.

Barclays, while retaining its branch numbers recently, has shortened opening hours at its Castletown branch and closed its Onchan and Peel branches some years ago, replacing them with a counter service available through the Post Office.