Twelve branches of banking giant HSBC will close in Wales in the coming months as the bank announces 114 closures across the UK. The global banking giant blamed a significant fall in customers visiting branches in person since the pandemic.
Branches will disappear from April next year in towns across Wales including Cardiff, Cowbridge, Port Talbot and Tenby. The full list of Welsh closures, with expected closure date, are:
- Abergavenny – April 18
- Brecon – May 9
- Chepstow – June 6
- Penarth – June 13
- Pontypool – June 27
- Port Talbot – July 11
- Blackwood – July 25
- Denbigh – August 8
- Colwyn Bay – August 15
- Cardiff Rhyd y Penau – August 29
- Tenby – date TBC
- Cowbridge – date TBC
Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us."
HSBC has said that around 100 staff could leave the bank as a result of plans to axe 114 UK branches from April next year. The group stressed that it hopes to redeploy all its employees at affected branches to other roles within HSBC, either to other branches or to a different position.
It plans to speak to all staff in the branches due to close but it estimates that around 100 employees could leave.
HSBC aren't the only one slimming down its physical banks - NatWest is also set to close 43 bank branches in the UK while Halifax and Lloyds said they would be shutting 66 more bank branches this year and into 2023.
You can see the full list of HSBC closures across the UK here.
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