PORTLAND residents have expressed anger over the news that Lloyds Bank in Easton Square will be closing this year.

Lloyds is the last bank left on the island. After its closure, residents will have to journey to Weymouth for face-to-face contact with a cashier. 

The Portland branch is one of 100 that will close nationwide, resulting in more than 200 job losses.

The news is a huge blow to people living on the island, and fears are growing that the older generation will suffer the most.

Margaret Hould, a Portland resident, said: “They’re being selfish. I have been banking with Lloyds since the 70s. Years ago people who were born and bred here stayed here. I feel sorry for the older people, lots of them don’t drive and don’t want to get the bus.”

Cllr Sandy West, Mayor of Portland, is outraged at the news. She said: “It’s wrong. I’m very worried about this. It’s a vital service for people on the island.”

She said the bank is part of the community, adding: “We’ve got our council offices across the road, the older generation go to the bank to speak to a cashier to get advice. It’s a real community hub.” 

Mike Cherry, chairman of the Federation of Small Businesses, thinks local businesses will also suffer at the loss of services they rely on.

He said: "Cash still remains an important element of many small firms. For some small businesses online banking is not always a viable substitute. 

Shop owners in Easton Square on Portland raised similar concerns about what it means for the future. 

Ian Burden, who owns a butcher and delicatessen a few doors up from Lloyds, said: "It affects everybody. I do get change from there when I’m short. If people have to go off the island to get money there won’t be any shops left here.” 

Dawn Osburn, who owns Sugar Loaf Cafe, said: "We'll manage, because we have to, it's the way that things are going. It's disappointing because now we have to go to Weymouth. The ladies in the bank I've known for about 28 years. It's a service. Portland people like a little banter, there's less and less places for people to go and get that banter."

Unions said the announcement will affect 54 Lloyds branches, 22 Halifax branches and 24 Bank of Scotland branches. 

A Lloyd's spokesman said that 325 jobs will be cut nationwide as part of previously announced reductions, and that the closures were a response to a change in customer behaviour, and 'the reduced number of transactions being made in branches'.

They said that the banks would work through the changes and continue to provide a 'multi-channel' service to customers. 

The branches will be closed between July and September this year.