HSBC has announced plans to close a further 114 branches in the UK next year.

The news follows the closure of 69 HSBC branches earlier this year.

The bank attributed the branch closures to changing consumer habits, with more people banking online after the pandemic.

It says that it will take a different approach to physical banking, with new banking hubs, community pop ups, and continued use of the Post Office network.


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," said Jackie Uhi, HSBC UK, managing director of UK distribution. "Banking remotely is becoming the norm for the vast majority of us. Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit."

Uhi said that the bank is providing free tablet devices to selected branch customers who do not already have a device to bank digitally, as well as one-to-one coaching to help them migrate to digital banking.

The move is part of a national trend, with 326 bank branches set to have closed across the country by the end of the year.

Unite slammed the decision, which will see the number of branches go from 441 to 327, saying that HSBC was “abandoning communities”.

The trade union said that of the total closures proposed, the majority – 108 – will result in no HSBC branch within 3 miles.

According to the organisation, after the closures, 25 communities will need to travel over 15 miles to access the nearest branch.

“While this Government is happy to stand aside and allow banks to pay their city bankers astronomical bonuses, there is no political will to challenge the banks on their actions in our communities,” said Dominic Hook, Unite national officer. “Without any corporate social responsibility to require banks to stay on our High Streets to help the elderly, disabled or vulnerable, then access to cash and banking will be lost forever.”

In July, figures published by British ATM network Link revealed that HSBC, Lloyds, Halifax, Nationwide, Barclays, Bank of Scotland, NatWest, Royal Bank of Scotland, and Santander would close between them 90 banks by the end of August.

The Financial Conduct Authority (FCA) recently proposed new rules that would see banks and building societies forced to assess the impact of changes to their services, including branch closures and opening times.

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