HSBC has announced an extension of its commitment to keeping its branches open until at least 2027, after closing over 700 branches in the past ten years. The banking giant has assured that none of its remaining 327 branches will be closed next year, with plans to invest nearly £56 million in enhancing the network. This decision comes following public backlash against HSBC and other banks for their extensive branch closure programs, which 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 attribute branch closures to the increasing shift towards online banking, HSBC revealed that customer footfall in its branches remains steady, with an average of 825,000 monthly branch visits and over two million monthly self-service transactions.
Recent estimates indicate that over 6,000 bank branches have closed since 2015, averaging 53 closures per month. HSBC alone has closed 743 branches during this period. HSBC’s latest commitment includes an investment of £55.8 million in refurbishing its remaining branches, building on the £42 million spent in 2025. The funds will be used to modernize branches across the UK, with 100 branches already upgraded and plans for new Premier and Wealth Centers in select locations.
In addition to physical branches, HSBC offers various community banking touchpoints, including Banking Hubs and Cash Access UK devices. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of maintaining physical branches to cater to customers’ diverse needs, especially those who value in-person interactions for critical financial decisions.
Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the bank’s ongoing investment in all banking channels to ensure excellent service tailored to customer preferences. HSBC’s commitment to keeping all branches open aligns with its strategy to enhance accessibility and customer service through an expanding network of community services and events.
HSBC’s announcement follows a similar pledge by Nationwide building society, which stated that all 696 Nationwide and Virgin Money branches will remain open until at least 2030.