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 last ten years. The banking giant has announced that it will not shut down any of its remaining 327 branches next year and will instead invest nearly £56 million in enhancing its network. This decision comes after facing criticism, along with other banks, for a significant closure program that has left many communities without local branches and easy access to in-person services.
The reduction in branch availability has disproportionately affected elderly, vulnerable, and low-income households, leading to a decrease in free-to-use cash machines alongside branch closures. While banks attribute branch closures to a shift towards online banking, HSBC stated that customer engagement across its network remains strong, with many customers visiting branches monthly and conducting transactions through self-service machines.
Reports indicate that approximately 6,000 bank branches have closed since 2015, with HSBC alone closing 743 branches during that period. HSBC’s recent investment pledge of £55.8 million in its existing branches supplements the £42 million spent in 2025. The funds will be used to revamp and modernize branches across the UK, with upgrades already completed in 100 locations. The renovations include major transformations, the establishment of Premier Centers in 29 branches, the introduction of Wealth Centers, and minor improvements in 78 branches.
HSBC also highlighted its presence in local communities through various banking touchpoints, such as shared Banking Hubs, Cash Access UK devices, and cash pods. Sally Williams, head of HSBC UK’s branch network, emphasized the importance of providing diverse services under one roof to cater to customers with different needs. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s commitment to enhancing accessibility across all banking channels to ensure excellent customer service.
HSBC’s announcement follows Nationwide building society’s recent pledge to keep all its 696 Nationwide and Virgin Money branches open until at least 2030.