The Channel Islands will not be affected by HSBC's plans to cut 114 branches next year, according to the bank.
The bank claims that footfall into its physical stores is “at an all-time low, with no signs of it returning” as many customers choose online banking instead.
HSBC also said it would use cash saved from the closures to invest in its remaining branches.
There are several HSBC branches across the Channel Islands.
Jersey has four branches of HSBC: two in St. Helier, one in St. Brelade, and one in St. Saviour.
Guernsey has three branches on the Bridge, the High Street and in St. Martins.
Alderney and Sark have one apiece, on Victoria Street and Rue Lucas respectively. Lloyds Bank International announced in June 2022 that it would close several branches across the Channel Islands – including its sole Alderney operation - with over 30 jobs lost.
The island is now left with just one physical bank – HSBC.
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