HSBC has announced the closure of 82 sites across the UK as part of a wider strategy to create four new types of branches.
In its pursuit of becoming a “market-leading digital bank”, HSBC has created four distinct branch formats, designed to provide local areas with banking facilities based on detailed analysis of customer behaviour.
This involves a reduction in the number of branches, with 82 closing in 2021, bringing the total number of branches to 511. The closures will be across the UK and phased throughout the year. Closure locations include Bournemouth, Leeds, Bristol and over 10 in London.
The new branch formats will be:
Jackie Uhi, HSBC UK head of network, said: “Over the last few months, we’ve been conducting a number of pilots to test out a range of potential future branch formats at different locations to make sure we are giving customers what they want where they want it. Our findings have led us to create four new and distinctive formats that we believe will be well-suited to serve the different local markets that we operate in, with a branch network that is fit for the future.”
HSBC seems to be following an industry wide pattern, as the first half of 2020 saw more bank and building societies closing branches than the whole of 2019.