HSBC promises not to close any branches before 2026
Banking giant vowed to make no further branch closures until at least 2026 on Monday as it promised to spend more than £50.0m on updating and improving its branch network.
HSBC said it would keep its 327 UK branches in operation for the next 18 months, even as it said the number of regular customers visiting branches had dropped by an average of 65% over the last half a decade.
Christopher Dean, HSBC's head of UK customer channels, said: "We know that our 327 branches play an important role in serving our customers, which is why we are investing more than £50.0m in refurbishing and remodelling works across our network this year."
HSBC also said it would offer services in 100 shared banking hubs by the end of the year, up from 41.
As of 1425 BST, HSBC shares were up 0.45% at 645.37p.
Reporting by Iain Gilbert at Sharecast.com
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.