HSBC to close dozens more bank branches
HSBC has announced plans to shut a further 114 UK branches – over a quarter of its surviving sites.
The UK-based but mainly Asia-focused bank said those affected would be shut from April next year.
The decision, as the wider banking sector has consistently claimed over many years, is the result of the surge in online banking.
It has led to declining demand for over-the-counter transactions with HSBC saying that some of those to be shut were dealing with fewer than 250 people per week.
It was unclear, at this stage, what the closures would mean for jobs.
The bank said it was to invest tens of millions of pounds in updating and improving its remaining branch network, which will total 327 once the closures have been completed.
Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us.
“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post-closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”
