Monday, June 17, 2024
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HomeNEWSBanking & FinanceHSBC to close more than one in four bank branches in the...

HSBC to close more than one in four bank branches in the UK due to customers switching to online Banking

HSBC says it will close 114 more branches in the UK from April, as customers using them have fallen significantly since the pandemic.
The bank said it would try to redeploy affected staff but about 100 will lose their jobs.
Banks have closed thousands of branches in recent years as more people bank online and lenders cut costs.
HSBC said it would invest in updating its remaining 327 branches, but a union accused it of abandoning customers.

Jackie Uhi, HSBC’s managing director of UK distribution, said people were changing the way they bank and footfall in many branches was at an “all-time low, with no signs of it returning”.

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