HSBC has decided to extend its commitment to not close any additional branches until at least 2027, following the closure of over 700 branches in the past ten years.
The banking giant has announced that none of its remaining 327 branches will be shut down next year. Instead, HSBC plans to invest nearly £56 million in enhancing its 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 banking services.
The closure of branches has disproportionately impacted elderly, vulnerable, and low-income households, leading to concerns over the loss of free-to-use ATMs in these areas.
While banks attribute branch closures to the increasing shift towards online banking, HSBC stated that customer footfall in its branches has remained strong, with an average of 825,000 customers visiting each month and over two million monthly transactions through self-service machines.
Reports indicate that more than 6,000 bank branches have closed since 2015, with an average closure rate of 53 branches per month. HSBC alone has closed 743 branches during this period.
HSBC has reaffirmed its commitment to invest £55.8 million in its existing branches, in addition to the £42 million spent in 2025. The funds will be used to revamp and modernize branches across the UK, with already 100 branches upgraded. The improvements range from major refurbishments to the establishment of Premier and Wealth Centers in select branches, as well as enhancements in 78 locations.
The bank also highlighted its presence in local communities through various touchpoints, such as shared Banking Hubs, Cash Access UK devices, and cash pods.
Sally Williams, head of the branch network at HSBC UK, emphasized the importance of offering a range of specialized services under one roof for customers, particularly those with complex needs who value face-to-face interactions.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, emphasized the bank’s ongoing investment in all banking channels to ensure excellent service through customers’ preferred channels.
HSBC’s commitment to keeping all branches open for at least another year and expanding its presence on the high street through community services comes shortly after Nationwide building society announced a similar pledge to keep all its branches open until at least 2030.