HSBC has decided to extend its commitment to keep all remaining branches open until at least 2027, following the closure of more than 700 branches over the past ten years.
The banking giant has pledged not to close any of its current 327 branches next year and will invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for a widespread branch closure program that has left many communities without convenient access to in-person services.
The closure of branches has disproportionately affected 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 popularity of online banking, HSBC stated that branch usage remains strong, with an average of 825,000 customers visiting each month and over two million monthly transactions through self-service machines.
Statistics show that over 6,000 bank branches have closed since 2015, with HSBC alone shutting down 743 branches during that period. The bank has allocated £55.8 million for investment in its existing branches, in addition to the £42 million spent in 2025, focusing on refurbishments, modernizations, and the introduction of specialized service centers.
Apart from physical branches, HSBC offers various banking touchpoints in communities, including shared Banking Hubs, Cash Access UK devices, and cash pods. The bank aims to provide customers with a range of services under one roof to cater to diverse needs and preferences.
HSBC’s commitment to keeping branches open aligns with its strategy to expand community services and enhance accessibility for customers. This announcement follows a similar pledge from Nationwide building society to maintain all 696 Nationwide and Virgin Money branches open until at least 2030.
