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HSBC pledges to keep branches open

HSBC pledges to keep branches open

HSBC commits to keeping UK branches open until 2027. The bank will invest £55.8 million into its branch network in 2026, a significant increase from this year, to support customer needs and address concerns about cash access.

HSBC has announced it will not close any branches in the UK until at least 2027, as part of its strategy to enhance customer engagement. The bank, which is the largest lender in Europe and part of the FTSE 100, plans to invest £55.8 million into its 327 branches in 2026. This investment marks a 30% increase from the £42 million spent this year.

Sally Williams, head of HSBC UK’s branch network, stated, “We are investing heavily into our physical network to continue servicing our customers, including those with more complex needs who value in-person interaction for those moments that matter.”

Last year, HSBC pledged to maintain all its branches until at least 2026. Since 2015, the bank has closed 743 branches, according to Which?. Over the past decade, more than 6,000 branches have been shut across the UK, with Barclays and Natwest leading the closures.

Branch closures have raised concerns about access to cash, particularly as UK banks are expected to close 432 branches by the end of 2025. A report from the Treasury Committee earlier this year warned of the UK becoming a “two-tier society” if the government fails to address cash acceptance issues.

Christopher Dean, managing director of wealth, premier, and personal banking at HSBC UK, commented, “This latest announcement shows our commitment to the millions of customers who choose to visit a branch each year. Extending our branch promise until at least 2027 reinforces our long-term commitment to local communities and the high street.”

In response to widespread closures, the government pledged last year to open 350 banking hubs to counteract the reduction of branches nationwide. The Financial Conduct Authority (FCA) currently mandates banks at risk of closing branches to assess the impact on customers’ access to cash.

In November, Nationwide committed to keeping all its branches open until at least 2030, following an increase in customer visits. The building society has attracted customers from major UK banks with its branch promise and various switch offers.

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BQ

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