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HSBC to close 114 branches in Britain from April 2023


HSBC to close 114 branches in Britain from April 2023 By Reuters

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Stock Markets 3 hours ago (Nov 30, 2022 11:33)

© Reuters. FILE PHOTO: A man walks past a HSBC bank branch in the City of London, Britain November 12, 2014. REUTERS/Stefan Wermuth/File Photo

LONDON (Reuters) – HSBC (LON:HSBA) will close 114 branches in Britain from April 2023, the British lender said on Wednesday, the latest in a string of such announcements by retail banks in the country as they slash their networks to try and cut costs.

HSBC, in common with peers such as Lloyds Banking Group (LON:LLOY) that has also closed branches in recent months, blamed changing customer behaviour for the move, saying customers are increasingly banking online.

HSBC said it will invest tens of millions of pounds in updating and improving its remaining 327 branches.

HSBC to close 114 branches in Britain from April 2023

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