HSBC UK to axe more than 100 branches amid decline in customer footfall

HSBC UK has said it will close 114 bank branches across the UK from next April in the face of declining footfall.

The banking giant said it is investing tens of millions into updating and improving the remaining branch network, which will total 327 following the closures.

A decline in customers banking in person during the pandemic saw some branches set to close serving less than 250 people a week, HSBC added.

On the flip side, usage of its mobile app has almost tripled since 2017 – with the vast majority of transactions completed digitally.

It comes after the bank shut down 69 branches in 2022, including those in Perth and Inverness.

Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us.

“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post-closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”