HSBC has 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 pledged to keep its current 327 branches open next year and will invest nearly £56 million in enhancing the network. This decision comes after facing criticism along with other banks for extensive branch closures, impacting many communities’ access to face-to-face banking services.
The reduction in branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to a decline in free-to-use cash machines in many areas. While banks attribute branch closures to the increasing shift towards online banking, HSBC states that customer usage across its network remains strong, with an average of 825,000 monthly branch visitors and over two million transactions through self-service machines.
Reports indicate that more than 6,000 branches have closed since 2015, averaging 53 closures per month, with HSBC alone shuttering 743 branches during that period. HSBC has committed to investing £55.8 million in its remaining branches on top of the £42 million spent in 2025, focusing on refurbishments, modernizations, and the establishment of specialized service centers in select locations.
Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person banking services for customers with complex needs, highlighting the bank’s ongoing investment in physical locations and community services. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s dedication to enhancing accessibility across all banking channels to provide excellent service to customers.
HSBC’s assurance to keep all branches open for at least another year aligns with a similar commitment made by Nationwide building society, which announced the continued operation of its 696 Nationwide and Virgin Money branches until at least 2030.
