Why are HSBC branches closing?

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asked Apr 16 in Other-Finance by my89Jeepie (920 points)
Why are HSBC branches closing?

1 Answer

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answered Apr 17 by 850rent (1,320 points)
The reason HSBC bank branches are closing is because HSBC is reshaping it's network for this new digital age in banking.

HSBC is closing a further 82 branches as the Covid-19 pandemic reinforces its strategy to move customers to digital channels.

This is a strategic direction that HSBC needs to take to have a branch network fit for the future.

HSBC Bank is a good bank and has great reviews and even HSBC Bank is recommended by Forbes.

If you're needing a good international bank or a bank that is more than just checking and savings accounts then HSBC Bank is a good fit.

The HSBC in the HSBC name of the bank stands for Hongkong and Shanghai Banking Corporation.

HSBC is owned by China and is a Hong Kong based Bank and company.

Also HSBC bank is part of the worldwide HSBC Group and is wholly owned by Hong Kong-based The Hongkong and Shanghai Banking Corporation Limited.

HSBC is also an investment banking company.

HSBC Holdings plc is a British multinational investment bank and financial services holding company. It is the largest bank in Europe, with total assets of US$2.715 trillion.

It is a China based and owned bank.

I've never used HSBC bank myself but many others do and say it's a good bank.

The HSBC bank was founded in the year of 1865 on March 3rd so they have been in business for over 100 years.

They must be doing good to be in business that long though.

Also the HSBC in the HSBC names stands for Hongkong and Shanghai Banking Corporation.

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