114 branches to close as HSBC says online banking the norm

1st December 2022 | Jack Oliver

HSBC has announced that it will close 114 of its branches nationwide, as the banking giant says footfall levels show no sign of recovery.

HSBC will join a number of banks in recent years who have closed branches as more people bank online.

About 100 staff members will lose their jobs.

Jackie Uhi, managing director of UK distribution at HSBC, said footfall was at an all-time low with no sign of returning.

“Banking remotely is becoming the norm for the vast majority of us”, she added.

HSBC said they would be investing in “post-closure” measures such as providing free tablet devices to customers to enable them to bank digitally.

The bank said in March that it planned to shut 69 branches by the Autumn, adding that footfall in three quarters of the earmarked branches had halved over the last five years, a trend accelerated by COVID.

Unite, a union group, slammed the move, with national officer Dominic Hook stating that HSBC were walking away from customers and communities.

He added: “While this Government is happy to stand aside and allow banks to pay their city bankers astronomical bonuses, there is no political will to challenge the banks on their actions in our communities. Without any corporate social responsibility to require banks to stay on our high streets to help the elderly, disabled or vulnerable, then access to cash and banking will be lost forever.”


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