HSBC has made a commitment to refrain from closing any additional branches until at least 2027, following the closure of over 700 branches in the past ten years. The banking giant has announced that none of its remaining 327 branches will be shut down next year and will instead invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for extensive branch closures that have left many communities without easy access to in-person services.
The reduction in branches has disproportionately affected the elderly, vulnerable populations, and low-income households. The closure of branches has also resulted in the removal of free-to-use ATMs in many areas. Banks attribute branch closures to the increasing preference for online banking among customers, citing low foot traffic in some branches. However, HSBC revealed that the overall usage of its network remains robust, with an average of 825,000 customers visiting a branch each month and over two million monthly transactions conducted via self-service machines.
Statistics indicate that approximately 6,000 branches have been shut down by banks since 2015, averaging 53 closures per month. Within that timeframe, HSBC alone closed 743 branches. The bank’s recent pledge of £55.8 million for branch investments supplements the £42 million spent in 2025. The funds will be utilized to renovate and modernize branches across the UK, with 100 branches already upgraded. The upgrade initiatives include major renovations, the establishment of Premier Centres in 29 branches, opening two Wealth Centres, and implementing minor enhancements in 78 locations.
In addition to physical branches, HSBC has various banking touchpoints in local communities, 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 in-person services for customers with diverse needs and highlighted the bank’s commitment to expanding its community services, such as Banking Hubs and HSBC Local events.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, stressed the bank’s continuous investment in all banking channels to ensure excellent service delivery through customers’ preferred channels. HSBC’s announcement follows a similar commitment by Nationwide building society to keep all 696 Nationwide and Virgin Money branches open until at least 2030.
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