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The news comes following a shift away from in-branch banking by many Britons. With online and mobile banking available, less people are now conducting their financial affairs in person.
The bank has said it will be closing 114 branches from April 2023.
This follows a previous announcement which saw 69 HSBC branches closer earlier in the year.
Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us.
“Not only can we do it anywhere at any time of day or night, many more things can be done at the customers’ convenience and don’t rely on a branch visit.”
HSBC has confirmed the full list of closures which will take place from April 2023 onwards.
- Palmers Green
- Park Gate Southampton
- Port Talbot
- Long Eaton
- Bognor Regis
- Norwich Mile Cross
- Bristol Westbury on Trym
- Ashton under Lyne
- North Finchley
- Henley on Thames
- 122 Finchley Road
- Bethnal Green
- Colwyn Bay
- Cardiff Rhyd y Penau
- Leighton Buzzard
Other branches set to close, with a date yet to be confirmed, are: Oxted, Epworth, Holsworthy, Tenby, Hythe, Cowbridge and Settle.
HSBC UK has said it will try to redeploy staff affected by the closures. However, it may see approximately 100 people lose their jobs.
Kevin Mountford, co-founder of Raisin UK shared his reaction to the closures.
He predicted there would now be a “constant push for online banking”.
He said: “114 branches are closing, and this totals up to a lot of space within the rental market along our nations high streets. It’s no surprise that face-to-face branch meetings have declined, with the recent pandemic, we have had no choice but to sort our banks online or through mobile phone calls. It’s been a sad time for all sectors, but it’s the face to face consumer sectors that are going to suffer the most.”
Tobias Gruber, founder and CEO of mycommunityfinance, added: “I’m not surprised HSBC have announced they’re set to close yet more branches as customers transition to online banking in their droves, but I hope the bank will plough the money saved into improving their digital and telephone banking offerings for their customers.”