HSBC to close 82 UK branches, cut services in others

HSBC will close 82 out of its 593 branches in the UK this year after a surge in digital banking and a commensurate drop in footfall across its retail network due to the pandemic's effects.

More customers are using online banking services as they opt to stay at home to minimize the spread of the virus.

HSBC will provide fewer full-service branches focused in large cities and towns.

The lender would refurbish many of the remaining branches and limit services in some, such as cash or self-service technology.

The bank also plans to roll out ‘pop-up’ mobile branches later this year.

Jackie Uhi, HSBC UK’s network, said the decision was prompted by the reduction in branch usage and surge in digital interaction that they are witnessing first-hand.