HSBC has recently announced a commitment to refrain from closing any more branches until at least 2027, following the closure of over 700 branches in the past ten years.
The banking giant has assured that none of its existing 327 branches will be axed next year and has allocated nearly £56 million for network investments. 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 banking services.
The reduction in branches has disproportionately affected elderly, vulnerable, and low-income households, leading to decreased access to free-to-use ATMs in many areas. While banks attribute branch closures to the increasing shift towards online banking, HSBC noted that their branches still see significant foot traffic, with an average of 825,000 customers visiting monthly and over two million transactions conducted through self-service machines.
Statistics indicate that more than 6,000 branches have been shut down by banks since 2015, with HSBC alone closing 743 branches during that period. In a bid to enhance customer experience, HSBC has pledged an additional £55.8 million for the refurbishment and modernization of its remaining branches, building on the £42 million investment made in 2025. This investment includes upgrades, the establishment of Premier and Wealth Centers, and improvements across various locations.
The bank also highlighted its community presence through initiatives like shared Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of physical branches in providing specialized services and personalized interactions for customers.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s commitment to customer accessibility and service excellence across all banking channels. This announcement comes shortly after Nationwide building society declared its plan to keep all 696 Nationwide and Virgin Money branches open until at least 2030.
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