HSBC recently announced that it will not close any more branches until at least 2027, following the closure of over 700 branches in the last decade. The banking giant has confirmed that it will not shut down any of its remaining 327 branches next year and will invest nearly £56 million in its network. This decision comes after facing criticism, along with other banks, for extensive closure programs that have left many communities without easy access to in-person banking services.
The loss of branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to reduced access to free-to-use cash machines. While banks attribute branch closures to the increasing shift towards online banking, HSBC stated that customer usage across its network remains strong, with an average of 825,000 customers visiting a branch each month.
Reports indicate that more than 6,000 bank branches have closed since 2015, with HSBC alone closing 743 branches during that period. The bank has pledged to invest £55.8 million in refurbishing and modernizing its existing branches, building on the £42 million spent in 2025. The funds will be used to upgrade branches, establish Premier and Wealth Centers, and make improvements across various locations.
HSBC also emphasized its commitment to local communities through various banking touchpoints, including Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of the branch network at HSBC UK, highlighted the importance of physical branches in offering specialized services and in-person interactions for customers with diverse needs.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, emphasized the importance of accessibility and continuous investment in banking channels to provide excellent service to customers. HSBC’s pledge to keep all branches open for at least another year aligns with its goal of expanding its presence on the high street through community services like Banking Hubs and HSBC Local events.
This commitment from HSBC comes shortly after Nationwide building society announced its decision to keep all 696 Nationwide and Virgin Money branches open until at least 2030.