HSBC has recently announced that it will not be closing any more branches until at least the year 2027, following the closure of over 700 branches in the past decade. The banking giant has confirmed that none of its remaining 327 branches will be axed next year and will instead invest nearly £56 million in enhancing its network. This decision comes after facing criticism, along with other banks, for a significant closure program that has left many communities without easy access to in-person banking services.
The closure of branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to a loss of free-to-use cash machines in many areas. While banks attribute branch closures to the increasing preference for online banking, HSBC revealed that their branch network continues to have substantial usage, with an average of 825,000 customers visiting a branch monthly and over two million transactions conducted through self-service machines.
Reports indicate that since 2015, banks have collectively shut down more than 6,000 branches, averaging 53 closures per month. HSBC alone closed 743 branches during this period. In a bid to enhance customer experience, HSBC has pledged an additional £55.8 million for upgrading and modernizing its existing branches, building on the £42 million spent in 2025. This investment includes refurbishing branches, establishing Premier Centres in 29 locations, introducing Wealth Centres, and implementing improvements in 78 branches.
HSBC also highlighted its presence in local communities through various banking touchpoints, including shared Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of providing a range of specialized services under one roof to cater to customers with diverse needs. HSBC’s commitment to keeping all branches open for at least another year aligns with its strategy to expand its high street presence through community services like Banking Hubs and HSBC Local events.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, emphasized the continuous investment in all banking channels to ensure excellent service delivery based on customer preferences. HSBC’s decision to maintain its branch network comes shortly after the Nationwide building society announced a similar commitment to keep all its branches open until at least 2030.
