The logo hangs on a branch of Lloyds Bank in London, Thursday, July 28, 2016. (AP Photo/Kirsty Wigglesworth)
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Britain's largest retail bank aims to save 400 million pounds ($528.56 million) by end-2017 by axing a further 3,000 jobs and closing an additional 200 branches to protect its earnings and dividends against the effects of lower-for-longer interest rates.This year, Lloyds has already said it would cut about 4,000 positions from its 75,000-strong workforce and has closed nearly 100 branches this year.Lloyds' shares were down 2.5 percent at 54.36 pence by 07:49 GMT partly in response to its cautious tone on future capital generation and its possible impact on dividends.
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