HSBC has recently announced an extension of its commitment to keep its branch network intact until at least 2027, following the closure of over 700 branches in the past decade. The banking giant has vowed not to shut down any of its remaining 327 branches next year, instead planning to invest nearly £56 million in enhancing the network. This decision comes after facing criticism, along with other banks, for widespread branch closures that have adversely affected many communities, particularly impacting the elderly, vulnerable, and low-income households who rely on in-person banking services.

Despite industry trends toward online banking, HSBC revealed that customer footfall in its branches remains strong, with an average of 825,000 monthly branch visitors and over two million monthly transactions through self-service machines. The overall decline in bank branches nationwide has been significant, with estimates indicating that more than 6,000 branches have closed since 2015, averaging 53 closures per month, including 743 closures by HSBC alone during that period.

To enhance its existing branches, HSBC has pledged an additional £55.8 million investment on top of the £42 million spent in 2025. This funding will be allocated towards renovating and modernizing branches across the UK, with 100 branches already upgraded. The improvements range from major renovations to the establishment of Premier and Wealth Centers in selected branches, as well as minor enhancements in 78 locations. Additionally, HSBC has expanded its community outreach with various banking touchpoints, including shared Banking Hubs, Cash Access UK devices, and cash pods.

Sally Williams, head of the branch network at HSBC UK, emphasized the importance of maintaining physical branches to cater to customers with diverse needs who value face-to-face interactions. She highlighted the ongoing expansion of HSBC’s high street presence through community services like Banking Hubs and local events. Christopher Dean, managing director of Wealth, Premier, and Personal Banking at HSBC UK, reiterated the bank’s commitment to enhancing accessibility across all banking channels to ensure excellent service delivery.

HSBC’s decision to preserve its branch network follows a similar move by Nationwide building society, which recently announced plans to keep all 696 Nationwide and Virgin Money branches open until at least 2030.