HSBC has decided to extend its commitment to keep all remaining branches open until at least 2027, following the closure of over 700 branches in the last ten years. The banking giant plans to invest nearly £56 million in its network, with no closures scheduled for the 327 branches next year.
The move comes after criticism of HSBC and other banks for reducing branch accessibility, particularly affecting elderly, vulnerable, and low-income individuals. Despite the industry’s argument that online banking has led to decreased foot traffic in branches, HSBC stated that its network still serves over 825,000 customers monthly, with more than two million transactions through self-service machines.
Reports indicate that approximately 6,000 bank branches have closed since 2015, with HSBC accounting for 743 closures. The bank’s new investment pledge of £55.8 million for branch improvements is in addition to the £42 million spent in 2025, focusing on refurbishments, modernization, and the creation of specialized centers within the branches.
HSBC also mentioned other community touchpoints such as Banking Hubs and Cash Access UK devices. Sally Williams, head of the branch network at HSBC UK, emphasized the importance of in-person services for customers, particularly those with complex needs. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, highlighted the ongoing investment in various banking channels to enhance customer service.
This announcement from HSBC follows a similar commitment made by Nationwide building society to keep all 696 Nationwide and Virgin Money branches open until at least 2030.
