HSBC has announced that it will not close any more branches until at least 2027, following the closure of over 700 branches in the past ten years. The banking giant has committed to keeping its remaining 327 branches open next year and will invest nearly £56 million in enhancing the network. This decision comes after criticism directed at HSBC and other banks for mass branch closures that have left many communities without easy access to in-person banking services.
The closure of branches has disproportionately affected the elderly, vulnerable, and low-income households, leading to a loss of free-to-use cash machines in many areas. While banks have attributed branch closures to the growing popularity of online banking, HSBC stated that customer usage across its network remains robust, with an average of 825,000 customers visiting a branch each month and over two million monthly transactions through self-service machines.
Recent estimates indicate that more than 6,000 bank branches have closed since 2015, averaging 53 closures per month. HSBC alone shuttered 743 branches during that period. The bank has pledged an additional £55.8 million in investment for its remaining branches on top of 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 new Premier and Wealth Centers.
HSBC also highlighted its commitment to maintaining a presence in local communities through initiatives like Banking Hubs, Cash Access UK devices, and “cash pods.” Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person services for customers with complex needs and moments that require face-to-face interactions. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s dedication to providing excellent service through various banking channels.
HSBC’s decision to keep all branches open for at least another year aligns with its ongoing efforts to expand its community services and maintain a strong presence on the high street. This announcement follows a similar commitment by Nationwide building society to keep all 696 Nationwide and Virgin Money branches open until at least 2030.