HSBC has 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 decided not to shut down any of its remaining 327 branches next year and will invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for widespread branch closures that have left many communities without easy access to in-person services.
The closure of branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to a loss of free-to-use cash machines in many areas.
While banks attribute branch closures to the increasing shift towards online banking, HSBC revealed that customer usage across its network remains strong, with an average of 825,000 customers visiting a branch monthly and over two million monthly transactions through self-service machines.
Estimates indicate that over 6,000 bank branches have closed since 2015, with HSBC alone shuttering 743 branches during that period.
HSBC’s pledge of £55.8 million investment in its remaining branches, on top of the £42 million spent in 2025, will focus on refurbishing and modernizing branches across the UK. The upgrades include major renovations, the establishment of Premier and Wealth Centres, and enhancements in various locations.
In addition to physical branches, HSBC offers “banking touchpoints” in local communities through 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, highlighting the bank’s commitment to expanding its presence on the high street through community services.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s dedication to improving accessibility for customers through various banking channels.
HSBC’s announcement follows a similar commitment by Nationwide building society to keep all its 696 branches open until at least 2030.