HSBC UK to Close 82 Branches in England
With the development of technology, customers can perform all their transactions without going to branches. As such, banks do not increase the number of branches anymore. It even started to reduce the number of branches.
British Bank HSBC has decided to close 82 branches in the UK. The reason for this is that customers can perform all their transactions, thanks to telephone and internet banking. 90% of customers perform all their transactions without going to the bank.
Employees in the closed branch will not be fired. They will continue to work in branches in the nearby regions. However, this means that the branch will not be opened unless it is no longer necessary.
HSBC UK, one of the largest banks in the world, was not surprised to make this decision. So much so that now banks are going digital.