HSBC to close 69 bank branches as part of online banking campaign

HSBC (HSBA.L) has announced the closure of 69 branches across its extensive UK banking network, in a move that will affect 400 jobs.

In a statement, the bank confirmed that the decision was made as part of its “transformation” in the operation of branches within individual communities.

Jackie Uhi, head of branch network at HSBC UK, said: “The way people are changing – which the pandemic has accelerated.

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

“Rather than a one-branch approach, it’s one built around how different customers choose to bank in different areas.”

Less than 50% of the bank’s UK customers now actively use its branch network, with average footfall down by more than 50% since 2017, according to HSBC.

The bank said it would try to replace affected branches with other banking services, such as new ATMs and pop-up banks.

HSBC added that no jobs were at risk as a result of the announcement. “We are aiming to redeploy all affected colleagues to other roles within the bank,” HSBC told Yahoo Finance UK.

Read more: NatWest pays out £298m in bonuses as 32 branches close

HSBC recently more than doubled its annual profit to $18.9bn (£13.9bn) and announced plans to buy back shares worth up to $1bn as the lender was helped by lower bad debts and operating expenses.

Full list of HSBC bank branches closed in 2022

• City of London

• Westfield Stratford City

• New Bond Street

• Cambridge, hills path

• Moorgate

• Angel Islington

• Gloucester Road

• monmouth

• Perth Blacksmith

• happy hill

• working

• East Grinstead

• Peckham

• Farnham

• Beaconsfield

• Street

• Lymington

• sidecup

• Thames

• Hoddesdon

• Brimingham, Harborne

• londonderry

• Uckfield

• Leyland

• Omagh

• Boreham and Elstree

• golden green

• stowmarket

• Eltham

• Wellingborough

• Amserham-on-the-Hill

• Bishop Auckland

• Ashby de la Zouch

• Woodbridge

• Thornbury

• New Malden

• Hartlepool

• Keynsham

• pinner

• Dewsbury

• Bark

• new market

• Billericay

• Beckenham

• Sidmouth

• Burgess Hill

• Daentry

• Nottingham, West Bridgford

• Ellesmere Harbor

• Strod

• St Annes-on-Sea

• Ringwood

• Pontefract

• Ilkeston

• Petersfield

• Whitehaven

• Hampstead, Main Street

• Inverness

• Wandsworth

• Manchester, Didsbury

• Bristol, White Ladies Road

• Shirley

• Bay of Herne

• Manchester, Trafford Park

• Cardiff, Guangzhou

• Falmouth

• Bootle

• kingston

The story continues

*Correction: This story has been edited to reflect that jobs are affected but not at risk.

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