HSBC UK has announced a significant extension to its branch commitment, guaranteeing that all 327 of its physical locations across the country will remain operational until at least the end of 2027. This move comes alongside a substantial financial pledge to enhance its branch network infrastructure.
Substantial Investment in Physical Banking
The banking giant revealed plans to boost investment into its branch network by approximately 30% next year. This translates to a commitment of £55.8 million in 2026, a notable increase from the £42 million spent during 2025. The allocated funds are designated for comprehensive refurbishment and modernisation projects at branches throughout the United Kingdom.
Building on Previous Commitments
This renewed branch promise strengthens earlier assurances made over the past two years, during which HSBC committed to announcing no new branch closures until the conclusion of the current year. The bank reports that usage across its network has remained robust, with an average of 825,000 customers visiting branches monthly and over two million transactions processed through in-branch self-service machines each month.
Executive Perspectives on the Strategy
Sally Williams, head of the branch network at HSBC UK, emphasised the rationale behind the investment. "We are investing heavily into our physical network so that we can continue to service our customers, including those with more complex needs who value in-person interaction for those moments that matter," she stated.
Christopher Dean, managing director of wealth, premier and personal banking at HSBC UK, added: "This latest announcement shows our commitment to the millions of customers who choose to visit a branch each year. Extending our branch promise until at least 2027 reinforces our long-term commitment to local communities and the high street."
Industry Reaction and Context
Sam Richardson, deputy editor of Which? Money, offered a measured response to the announcement. "While it's good to see HSBC committing to not shut any more branches until 2027, it has still closed hundreds in the last decade, with real impacts on communities who need to access in-person services or withdraw cash," he noted.
Richardson further suggested that "given their ongoing importance to communities, other firms should also consider committing to keep branches open so that those who aren't yet ready or able to make the switch to digital banking aren't left in the lurch." This statement highlights the broader industry context of branch closures and the essential role physical banking locations continue to play for many customers across the UK.
