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11/30/2022, 1:31 PM (Source: TeleTrader)
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HSBC to close 114 UK branches next year

Banking giant HSBC Holdings plc announced on Wednesday its decision to close 114 branches in the United Kingdom next year in an effort to cut costs. Customer-facing services were drastically reduced during the pandemic, with online banking preferred as the new trend, which has also seen other banks close their branches in the country.

Customers can still use pop-up banking services and the Post Office to access their accounts. Jackie Uhi, managing director of UK HSBC, added that "many more things can be done at the customers' convenience, that don't rely on a branch visit."

Closures will begin from April 2023, with the bank's 327 remaining branches updated through a multi-million-pound investment.

Baha Breaking News (BBN) / KB