Lloyds Banking Group is to slash 3,000 jobs and close 200 branches across the country in response to an expected cut in interest rates in the wake of Brexit.

It is not yet known if the job losses and high street closures will affect the branch in Stroud, which is in Rowcroft.

A spokeswoman for the bank said: “We haven’t got that level of detail yet.

“We are working through those plans at the moment and will announce specifics in the future.”

Lloyds is targeting £1.4 billion in cost saving measures by the end of next year.

The cuts, which were part of a cost-cutting programme announced in 2014, have been extended as the bank targets £1.4 billion in savings by the end of 2017.

The Bank of England is widely expected to cut interest rates from 0.5 per cent to 0.25 per cent next week to help stabilise the economy following Britain’s decision to leave the European Union.