HSBC has announced that it will not be closing any more branches until at least 2027. This decision comes after the closure of over 700 branches in the last ten years. The banking giant has pledged to keep its remaining 327 branches open next year and will invest nearly £56 million in the network. This commitment follows previous plans to avoid closures until 2026.
The closure of numerous branches by HSBC and other banks has faced criticism, leaving many communities without easy access to face-to-face banking services. The impact of branch closures has been particularly hard on the elderly, vulnerable, and low-income households, leading to a loss of free-to-use cash machines in many areas.
While banks attribute branch closures to the increasing shift towards online banking, HSBC stated that its branch network continues to see robust usage. With an average of 825,000 customers visiting a branch each month and over two million monthly transactions through self-service machines, HSBC believes in the importance of maintaining its physical presence.
Estimates show that more than 6,000 branches have closed since 2015, with HSBC alone shuttering 743 branches during that time. The bank has committed to investing £55.8 million in its existing branches, building on the £42 million spent in 2025. This investment will focus on refurbishing and modernizing branches across the UK, with 100 branches already upgraded and plans for further enhancements.
HSBC’s branch network offers a range of specialist services, including Premier, Wealth, Mortgages, and Business Banking, under one roof. The bank is dedicated to serving customers with diverse needs, emphasizing the value of in-person interactions for important financial matters.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, emphasized the importance of accessibility and ongoing investment in banking channels to provide excellent service tailored to customer preferences.
HSBC’s commitment to keeping branches open aligns with Nationwide building society’s recent announcement to maintain all 696 Nationwide and Virgin Money branches open until at least 2030. This move signifies a shared dedication to preserving physical banking presence amid the digital shift in the industry.