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27th Jun, 2022

HSBC to axe Shirley branch as it announces 69 closures

Sarah Mason 15th Mar, 2022

HSBC UK has announced it is closing the Shirley branch on September 29.

The bank, on Stratford Road, is one of 69 earmarked for closure over the next seven months.

HSBC said less than 50 per cent of its customers actively use the branch network and there has been an increasing preference for mobile and online banking since the start of the pandemic.

It added that footfall at branches has decline over 50 per cent since 2017, which they claim is faster than any point in the last decade.

HSBC said no planned closures are the last bank branch in town.

Jackie Uhi, head of HSBC UK’s branch network, said: “The way people bank is changing – something the pandemic has accelerated.

“Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.

“Rather than a one-size fits all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.

“We know that the majority of our customers have a preference to do much of their day-to-day banking online or via mobile, so we’re removing locations where we have another branch nearby, and where there is a significant reduction in customers using face-to-face branch servicing.

“This will enable us to invest in locations where our customers are continuing to utilise the branch network, including updating technology and refurbishing branches.”

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