HSBC set to close 82 branches by September



HSBC is set to close 82 branches across the UK as the coronavirus pandemic accelerates the shift to online banking.

The closures will start with Edinburgh’s Princes Street branch in April and also include the Falkirk High Street branch in June.

Staff in branches facing closure are expected to be redeployed to other branches and sites within 15 miles of their homes, the bank said.

HSBC said that aside from Covid-19 restrictions limiting footfall, the closures are part of plans to become a more digital bank and an overhaul of how remaining branches will operate.

Of the 82 sites closing, 81 are within a mile of a Post Office, two thirds are within five miles of another HSBC branch and nine in 10 are within 10 miles of another branch, the bank added.

HSBC is not alone in closing branches due to changing customer behaviour, with TSB announcing last autumn that it would cut around 300 jobs in Scotland and close 73 branches north of the border this year.

This followed Virgin Money’s decision to cut jobs and branches last February, as part of its merger with CYBG, which came not long after Lloyds Banking Group stated it would cut 780 branch jobs.



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