January 24, 2017 3.27 pm This story is over 86 months old

Two Lincolnshire HSBC branches to close this year

Banking giant HSBC has said it will close over 100 branches in the UK this year, including ones in Brigg and Horncastle. The bank has pointed to the growth of mobile and internet banking as a reason for the closures, with the move expected to put up to 180 jobs at risk. HSBC shut over…
The HSBC branch in Horncastle. Photo: Google Street View

Banking giant HSBC has said it will close over 100 branches in the UK this year, including ones in Brigg and Horncastle.

The bank has pointed to the growth of mobile and internet banking as a reason for the closures, with the move expected to put up to 180 jobs at risk.

HSBC shut over 200 branches in 2016, with the latest earmarked for closure to either stay open until the summer or the end of the year at the latest.

An extra 62 branches are set to close on top of the 55 closures announced last year, meaning a total of 117 HSBC branches will close in 2017.

Francesca McDonagh, HSBC head of retail banking and wealth management for UK and Europe, said customers impacted by the cuts would be told about the alternative ways to bank with HSBC.

“More customers are using mobile and internet banking than ever before, innovation such as Touch and Voice ID has proved extremely popular, and fewer people are using branches.

“The decision to close these branches ensures a more sustainable branch network for the future as we continue to invest in our digital platforms and our people.”

Unite union national officer, Dominic Hook, said: “Unite is deeply concerned that this large branch closure programme will be devastating not only for staff but also for the loyal HSBC customers who will lose their community branch.

“Unite is again calling on the banking industry to rethink such branch culling exercises, which do nothing to reassure customers or staff that banking is accessible and open to all.”