HSBC UK has announced further branch network transformation, including the closure of 69 branches, as it continues to evolve its branch approach, with branch formats tailored to each local community.
Beyond the traditional bank branch, HSBC UK’s new branch approach includes a broader range of local support. It includes community pop-ups, new integrated self-service machines, digital support from colleagues, and continued use of the post office network. It will enable HSBC UK to continue to invest in digital and mobile services, as well as reinvest in its branch network in strategic locations. Less than 50% of the bank’s customers now actively use its branch network, with the average footfall declining over 50% since 2017, faster than any point in the last decade.
Jackie Uhi, Head of HSBC UK’s Branch Network, said: “The way people bank is changing — something the pandemic has accelerated. We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.”
