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Bank cutbacks

HSBC closes last operating branch in Edinburgh

HSBC

The branch in Princes Street will close in April (pic: Terry Murden)

Banking giant HSBC will have no operating branches in Edinburgh after it closes the Princes Street outlet as part of shake up of its network.

The branch will close on 23 April, the first of 82 across the UK. Its other city branch in Hanover Street is temporarily closed, apparently because of flooding.

A branch in Falkirk High Street is also among those scheduled to close.

HSBC said the closure decisions have been made in response to “market trends, customer behaviour and branch usage.”

It said some branches will remain open but will have no counter service. 

The bank, which dubs itself “the world’s local bank”, is also creating new ‘pop-up’ branches.

HSBC said 81 of the branches which are being closed down are within one mile of a Post Office branch, while two-thirds are within five miles of another HSBC branch and nine in 10 are within 10 miles of a branch.

It will be left with a UK network of 511.



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