Lloyds Banking Group has announced it will axe the Halifax brand after 173 years on UK high streets. The decision follows a review of Lloyds' branding strategy and means new accounts will no longer be opened under the Halifax name. Instead, existing customers will see their accounts gradually shifted to the Lloyds brand over the coming days.

Lloyds has confirmed it will remove Halifax signs from 190 of its 531 branches in early 2027, but none will be closed as a result of the changeover. The move is part of a broader overhaul of Lloyds' branding strategy, aimed at simplifying operations and reducing costs.

The Halifax brand has been a familiar sight on UK high streets for nearly two centuries, with its roots dating back to the mid-1800s when housing shortages prompted the founding of the Halifax Permanent Benefit Building Society. The society allowed members to earn interest on deposits and borrow funds to buy or build their own home.

Lloyds' consumer relations boss Jas Singh has assured customers that sort codes and account numbers will not be affected by the brand migration plan. However, axing Halifax would mean losing one of the most recognisable and historic lenders on the UK high street.

The decision has proven controversial among loyal customers and Halifax residents, who are concerned about the loss of a local banking identity. Lloyds has operated under three brands – Lloyds, Halifax, and Bank of Scotland – since January 2009, when it was formed following the financial crisis and the merger between HBOS and Lloyds TSB.

The overhaul means that Lloyds will be the group's sole brand in England, Wales, and Northern Ireland from next year. However, Bank of Scotland will be retained for customers in Scotland. Singh said: "As Halifax changes to Lloyds, our Halifax customers will keep everything they know and love today – the same fantastic app design, the same friendly faces in our branches – even the same sort code and account number."