HSBC has announced that it will not close any more branches until at least 2027, following the closure of over 700 branches in the past ten years. The banking giant has confirmed that none of its remaining 327 branches will be shut down next year and will instead invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for the significant closure of branches that has left many communities without easy access to in-person banking services.
The loss of branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to concerns about the accessibility of essential banking services. Banks have attributed the closure of branches to the increasing shift towards online banking, stating that some branches receive minimal foot traffic. However, 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 transactions conducted through self-service machines.
Recent estimates indicate that more than 6,000 bank branches have been closed since 2015, averaging 53 closures per month. HSBC alone has closed 743 branches during this period. As part of its commitment to maintaining its existing branches, HSBC has pledged an additional £55.8 million for refurbishments and modernizations on top of the £42 million spent in 2025. This investment will focus on upgrading branches across the UK, with 100 branches already renovated, including the establishment of Premier Centres in 29 branches and two Wealth Centres.
In addition to physical branches, HSBC has various community touchpoints, such as shared Banking Hubs, Cash Access UK devices, and cash pods, to ensure continued accessibility to banking services. Sally Williams, the head of the branch network at HSBC UK, emphasized the importance of in-person services for customers, especially those with complex needs. Christopher Dean, the managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the ongoing investment in all banking channels to provide excellent service tailored to customer preferences.
HSBC’s commitment to keeping its branches open aligns with a similar pledge made by Nationwide building society, which vowed to maintain all 696 Nationwide and Virgin Money branches operational until at least 2030.