HSBC to shut 27 branches: here’s the full list
HSBC is to close 27 branches this year to “reflect the long-term change in the way customers are banking”.
Some of the bank’s flagship branches, including Regent Street and Kensington High Street, will see their doors shut between July and the end of 2020. The closures will see HSBC’s bank network reduce to 594.
HSBC said the number of customers using its branches has fallen by a third over the past five years, with 90% of customers contacting the bank via phone, internet or smartphone.
This is the latest in a long line of branch closure announcements.
In January, Lloyds Banking Group confirmed it would be closing 56 branches across the country later this year including 31 Lloyds, 10 Halifax and 15 Bank of Scotland outlets.
TSB has also confirmed it will be shutting 82 branches this year.
Consumer group Which? found that 3,303 branches shut their doors between January 2015 and August 2019 – more than a third of the entire UK branch network.
However, Which? research found that two thirds of people would find life difficult without convenient access to a branch, while 11 million people lack the confidence to carry out basic banking tasks online.
Stuart Haire, HSBC UK’s head of retail banking and wealth management, said: “Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future. But, the way our customers bank with us has changed significantly over the last five to ten years, and that change is something we cannot ignore.”
HSBC said it would invest almost £34m in its remaining branches and refurbish 49 sites across the country.
Here’s a full list of the branches set to close
To close on 3 July 2020
Bristol Bedminster, Leigh-on-Sea, London Park Royal, Chingford, Swindon Old Town, Kensington High Street.
To close on 10 July 2020
Blaby, Peterlee, Leigh Bradshawgate, Chard, Wallasey, Royston, Pudsey.
To close on 31 July 2020
Croydon Wellesley Road, Saffron Walden, Tiverton, Ely, Pembroke
Other closures closing later in 2020
London Greenwich, London Regent Street, Redhill, Thetford, Sheffield Broomhill, Bourne, Cheltenham Bath Road, Coventry Corporation Street, Heswall.