HSBC reveals plans to close 69 UK branches

HSBC has revealed plans to shut 69 bank branches in a move that could affect around 400 staff.

The bank said its new branch approach includes a “broader range of local support” and includes community pop-ups, new integrated self-service machines, “colleague-assisted digital support for customers”, as well as continued use of the Post Office network.

It added that it will allow HSBC UK to continue to invest in its digital and mobile servicing and reinvest in its branch network in “key locations”.

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The bank also said that less than 50% of its customers now actively use its branch network, with the average footfall declining over 50% since 2017, faster than any point in the last decade.

A spokesman for the bank added that it hopes to redeploy all 400 staff to new roles within 15 miles of their homes.

Jackie Uhi, head of HSBC UK’s branch network, said: “The way people bank is changing – something the pandemic has accelerated.

“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.

“Rather than a one-size-fits-all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.”

“We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.

“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”

The full list of branches to be closed:

July –

• City of London

• Westfield Stratford City

• New Bond Street

• Cambridge, Hills Road

• Moorgate

• Angel Islington

• Gloucester Road

• Monmouth

• Perth

• Hammersmith

• Merry Hill

• Woking

August –

• East Grinstead

• Peckham

• Farnham

• Beaconsfield

• Street

• Lymington

• Sidcup

• Thame

• Hoddesdon

• Birmingham, Harborne

• Londonderry

• Uckfield

• Leyland

• Omagh

• Borehamwood & Elstree

• Golders Green

• Stowmarket

• Eltham

• Wellingborough

• Amersham-on-the-Hill

• Bishop Auckland

• Ashby-de-la-Zouch

• Woodbridge

• Thornbury

September –

• New Malden

• Hartlepool

• Keynsham

• Pinner

• Dewsbury

• Barking

• Newmarket

• Billericay

• Beckenham

• Sidmouth

• Burgess Hill

• Daventry

• Nottingham, West Bridgford

• Ellesmere Port

• Strood

• St Annes-on-Sea

• Ringwood

• Pontefract

• Ilkeston

• Petersfield

• Whitehaven

• Hampstead, High Street

• Inverness

• Wandsworth

• Manchester, Didsbury

• Bristol, Whiteladies Road

• Shirley

October –

Date TBC –