HSBC wants to close 114 UK branches, a quarter of its UK network

Banking giant HSBC wants to close 114 UK branches from April, around a quarter of its branches in the country, with around 100 jobs at risk.

According to the PA agency on Wednesday, the bank justifies itself by stating that it has suffered a decrease in the frequency of these agencies in the past five years, especially since the pandemic, where the use of online banking has accelerated.

HSBC says it hopes to redeploy the bulk of staff to other branches and other roles, but around 100 people could still lose their jobs, according to the PA. The banking giant is developing an alternative network of “nav» banks, offices established in branches of other institutions, such as the post office for example, or rotating banking service points shared by several brands in turn.

The decision to close a branch is never taken lightly, especially if we are the last in a particular area“Notes the bank, quoted by PA. The UK is facing massive branch closures across the country, to the point where some areas are now being described as “bank deserts“.

Earlier this year, HSBC had already announced the closure of 400 branches. If online banking applications and websiteshave become increasingly easy to use (…), reducing the need for agencies“this decision can affect”unfairly defined pockets of society, such as those without internet or the elderly who struggle with technologynotes Victoria Scholar, analyst at Interactive Investor. This is what the trade union Unite says on its sideuprising” of these new closures of HSBC sites at the expense of “customers and communities who need banking services the most“.

He urges HSBC to “reconsider“this choice and not”leaving the most vulnerable in our society“.


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