HSBC UK is to almost 15% of its branches in 2021, reducing its estate by 82 to 511. The closures will be phased throughout the year.
Of the branches closing, 81 are within one mile of a Post Office, where customers can carry out day-to-day transactions, two-thirds are within five miles of another HSBC branch and nine in 10 are within 10 miles.
As part of the reorganisation of its business, HSBC is introducing ‘pop up branches, which it describes as “a temporary, movable, local presence that is flexible and agile, helping customers with ‘in the moment’ queries including help setting up and resetting online and digital banking, providing digital education, guidance and customer support”.
Work to reformat, refurbish and refresh the branches has already started and is expected to be completed by the end of 2021. The new ‘pop up’ concept branches will be rolled out later this year.
HSBC UK’s Head of Network, Jackie Uhi, said: “Nine in 10 of all customer contact with us is over the phone, internet or smartphone, in addition to talking to over 100,000 customers a week on social media. Making sure we have a sustainable branch network is essential to us, and decisions to close branches are not taken lightly.”