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HSBC to close 82 UK branches

HSBC has announced plans to close 82 branches as the group focuses more on online banking.

The banking group has said that despite the closures, there will be minimal redundancies as staff will be redeployed to “suitable nearby locations”. It has not said how many jobs will be affected.

The number of branches in the UK will fall to 511 and the decision reflects “local market trends, customer behaviour and branch usage”.

Jackie Uhi, HSBC UK’s Head of Network, said: “In recent years we have introduced more digital options to make our customers’ lives easier and we know that customers are becoming more comfortable primarily using online and mobile banking to take control of their finances, turning to other channels for very particular interactions.”

The group said that even before the pandemic, the number of customers using bank branches fell by a third over the past five years.

Last year the group revealed a major restructuring plan, where it announced plans to cut 35,000 jobs globally.

The bank said that currently, 90% of all customer contact is over the phone, internet or smartphone.

TSB recently announced closure of 164 branches in the UK.

TSB chief executive Debbie Crosbie said: “Closing any of our branches is never an easy decision, but our customers are banking differently – with a marked shift to digital banking.

“We are reshaping our business to transform the customer experience and set us up for the future.

“This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.”

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