HSBC has announced the closure of more than a quarter of its remaining UK bank branches – Copyright AFP Hollie Adams
HSBC announced plans on Wednesday to permanently close more than a quarter of its remaining UK bank branches as customers increasingly switch to conducting transactions online.
The global bank will close 114 branches from April, it said in a statement, having closed about 150 since last year.
Around 100 staff are expected to lose their jobs following the latest lockdowns, reflecting measures being taken by other major UK banks.
“People are changing the way they bank and traffic at many branches is at an all time low with no sign of it returning,” said the bank’s UK distribution managing director Jackie Uhi.
“Remote banking is becoming the norm for the vast majority of us.”
Consumer surveillance Which one? These banks and building societies have closed or are scheduled to close more than 5,200 branches since the beginning of 2015, at the rate of about 54 each month.
By the end of next year, the NatWest Group, which runs NatWest, Royal Bank of Scotland and Ulster Bank, will have closed more than 1,200.
More than 920 Lloyds, Halifax and Bank of Scotland branches, all part of Lloyds Banking Group, will be gone in the next 12 months.
Barclays has closed or will close more than 960 branches by the end of this year, which ones? he said on Tuesday.
The closures have alarmed consumer groups who said the moves will predominantly affect those who still use cash, particularly the elderly.
The trend towards cashless payments and online banking has accelerated since the coronavirus pandemic.