HSBC UK updates on branch plans for 2020
Following a detailed review in light of the current situation around the Coronavirus pandemic, a decision has been made to postpone the closure of ten branches where redundancies will need to be made, until December. Of the remaining 18 branches, 15 branches will remain open for at least a further three months until Q4 of 2020.
Three branches, Croydon, Regent Street and Hemel Hempstead, where individual circumstances mean a pause is not possible, will be closing in August and September. All roles in these branches will be transferred to other local branches, with no job losses.
The Hemel Hempstead branch is the only new addition to the list of closures, due to a development within its town centre, where the branch building is being repurposed as part of a new cinema complex.
Stuart Haire, HSBC UK’s Head of Wealth and Personal Banking said: “The whole of the retail and financial services sectors are currently operating in extremely challenging times in terms of footfall, staffing and due to many other external factors that can’t be controlled.
“We have worked hard, despite these challenges, to remain operational across the bank, whether that is in our physical branches, our contact centres, our IT professionals and tech experts, as well as our product teams who have introduced payment holidays to products to help people tackle the financial impacts of COVID-19.”
“We have also continued to have a very high percentage of branches remaining open, over 95% at present, with all employing social distancing measures. It hasn’t been easy.
“Branch staff, some of whom are working remotely, have been contacting vulnerable customers to check how they are and whether they need any help accessing their account online or through our mobile app, or for just a chat. We have made over 300k calls so far, and we will continue to connect with our vulnerable customers over the coming weeks and months.
“I am extremely proud of how the branches have responded to the current health crisis, but different challenges remain on our branch network that we cannot ignore. We need to ensure a sustainable branch network for the future which will allow us to continue to invest in it.”
Customers can keep up to date with the availability and opening times of their local branch by using the branch locater on our website.
Notes to Editors
The confirmed list of branch closures:
Croydon Wellesley Road and London Regent Street are scheduled to close in August. Bristol Bedminster and Hemel Hempstead in September.
Chingford, Leigh on Sea, Kensington High Street, Sheffield Broomhill, Blaby, Leigh Bradshawgate, Pudsey, Wallasey, Greenwich, Swindon Old Town and Redhill in October.
Cheltenham Bath Road, Coventry Corporation Street and Heswall in November.
London Park Royal, Tiverton, Chard, Bourne, Ely, Peterlee, Royston, Thetford, Pembroke and Saffron Walden in December.
During the course of 2020 HSBC UK is still continuing with plans to invest £34m in its branches, including installing the latest technology as well as refurbishing and refreshing 49 sites across the country to bring their facilities up to date. Parts of the programmes have been delayed due to the current operating conditions and restrictions of the Coronavirus Pandemic, but this will recommence these when we are able to do so.
Over the past five years, the number of customers using HSBC UK branches has fallen by a third. Nine in ten (90%) customers’ contact with the bank is now completed via the telephone, internet or smartphone and 99% of cash withdrawals are made at an ATM. The emergence of social media as a tool used by customers has also been stark, with a five-fold increase in cases being handled over the last two years, with 85,000 interactions in the last 12 months.
The closure of 28 branches in 2020 will reduce the branch network to 593.
HSBC UK customers, both retail and business, are also able to access their bank account and carry out their day-to-day banking in all 11,500 Post Office locations.
Media enquiries to:
Media contact: Steve Gracey: steve.gracey@hsbc.com
Email: UKPressOffice@hsbc.co.uk
For the latest news and updates, visit the HSBC UK newsroom
HSBC UK
HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,715bn at 31 December 2019, HSBC is one of the world’s largest banking and financial services organisations.