HSBC has made a commitment not to close any more branches until at least 2027, following the closure of over 700 branches in the past decade. The banking giant has announced that it will not shut any of its remaining 327 branches next year and will instead invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for their extensive closure programs that have left many communities without local branches and convenient access to in-person services.
The reduction in branches has had a significant impact on elderly, vulnerable, and low-income households, as well as resulted in the loss of free-to-use ATMs in many areas. While banks attribute the closures to the increasing preference for online banking among customers, HSBC stated that customer usage across its network has remained strong, with an average of 825,000 customers visiting a branch each month and over two million monthly transactions conducted through self-service machines.
Reports indicate that since 2015, more than 6,000 bank branches have closed, averaging 53 closures per month, with HSBC alone closing 743 branches during that period. HSBC’s recent announcement includes a pledge of £55.8 million for investments in its existing branches in addition to the £42 million spent in 2025. The funds will be utilized for refurbishing and modernizing branches across the UK, with 100 branches already upgraded. The enhancements range from major renovations and the establishment of Premier Centres in 29 branches to the introduction of two Wealth Centres and various improvements in 78 locations.
Furthermore, HSBC mentioned having various community touchpoints such as shared Banking Hubs, Cash Access UK devices, and cash pods to provide banking services locally. Sally Williams, the head of HSBC UK’s branch network, emphasized the importance of physical branches in offering a wide range of specialized services under one roof and serving customers with diverse needs. She highlighted the ongoing investments in the physical network to ensure exceptional customer service, especially for those who value in-person interactions for important financial matters.
Christopher Dean, the managing director of Wealth, Premier, and Personal Banking at HSBC UK, emphasized the bank’s continuous investment in all banking channels to ensure top-notch service delivery based on customers’ preferences. HSBC’s commitment to maintaining its branch network comes shortly after the Nationwide building society announced a similar pledge to keep all its 696 Nationwide and Virgin Money branches open until at least 2030.