A week after parent company HSBC announced a massive global restructuring, HSBC UK announced that it will close 27 branches this year, citing a one-third reduction in customers using its bank branches in the past five years. 

HSBC UK said that 90% of customers were using the bank's telephone, internet or smartphone app service to do their banking and 99% of customers were getting cash from ATMs. The bank also cited a five-fold increase in the use of social media for customer service issues. 

"Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future," Stuart Haire, head of retail banking and wealth management at HSBC UK, said in a company release. "But the way our customers bank with us has changed significantly over the last five to 10 years, and that change is something we cannot ignore."

An HSBC spokesman said via email that the bank was mindful about maintaining consumer access to cash and none of the branch closures will be the last available branch in affected communities.

The bank will invest 34 million pounds ($43 million) in its branches in 2020, including the installation of new technology and refurbishing 49 locations. HSBC UK will still have 594 U.K. branches after the shutdowns. HSBC customers will also conduct bank transactions at 11,500 post office locations in the U.K. 

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