CLOSING - Exmouth's HSBC branch to shut later this year

HSBC

HSBC - Credit: Archant

Exmouth’s HSBC branch is expected to close in August as part of a company-wide cut back. 

The bank has announced it will close 82 branches across the country with the shutting down beginning from April. 

HSBC said the Covid-19 pandemic has seen a greater shift to online banking although insisted the closures were not entirely related to the lockdowns and restrictions introduced. 

Staff are expected to be redeployed to other branches and sites within 15 miles of their home, the bank said. 

Sidmouth and Honiton’s branches are not subject to closure. 

Jackie Uhi, HSBC UK's head of network, said: "The Covid-19 pandemic has emphasised the need for the changes that we are making. 

"It hasn't pushed us in a different direction but reinforces the things that we were focusing on before and has crystallised our thinking. 

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"This is a strategic direction that we need to take to have a branch network fit for the future. 

"Making sure we have a sustainable branch network is essential to us, and decisions to close branches are not taken lightly. 

"By ensuring we have the most suitable branch format in each specific local market that we serve, we will ensure that we are in good shape to meet the challenges ahead." 

She added that stripping out any impact of the pandemic, the number of customers using branches has fallen by a third in the last five years. 

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