Lloyds TSB has confirmed up to 18 jobs are to go in the Isle of Man.
But it's hoped these can be covered by normal staff turnover and redeployment and are due to be cut over a two-and-a-half-year period.
The bank's Islands Director Martin Fricker says compulsory redundancies will be a last resort.
He says, "I do regret that there will be a reduction of roles as a consequence of the merger of Lloyds TSB and HBOS in the Channel Islands and the Isle of Man".
"It is inevitable that bringing two organisations together will result in duplicated roles."
As well as the 18 jobs here up to 180 could go in Jersey and five in Guernsey with the rest of the 240 cuts announced being at the London support centre.
The banking group says this will be offset by the creation of 70 new positions in Risk Management, mostly based in Edinburgh.
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