Lloyds to delay UK branch closures

Taxpayer-backed Lloyds Banking Group today announced it was putting on hold further UK branch closures until the end of 2011 as its new boss Antonio Horta-Osorio completes a strategy overhaul.

Mr Horta-Osorio, who takes over as chief executive from Eric Daniels today, is also speeding up plans to offload more than 600 branches as part of its commitment to meet State aid rules.