HSBC Holdings (HSBA)

Sector:

Banking

Index:

FTSE 100

619.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 659.00
  • 52 Week Low: 549.70
  • Currency: UK Pounds
  • Shares Issued: 18,964m
  • Volume: 18,531,649
  • Market Cap: £117,385m
  • RiskGrade: 167

HSBC set to close 27 more UK branches in 2020

By Caoimhe Toman

Date: Tuesday 25 Feb 2020

LONDON (ShareCast) - (Sharecast News) - HSBC expects another wave of closures in the UK with 27 branches confirmed for the cut as more customers turn to online and mobile banking.
The cuts will leave the total of UK outlets at 594 and includes the closures of branches such as Regent Street and Kensington High Street in London.

However, a spokesman said the move was not linked to the shake-up announced a week before, which involves plans to cut about 35,000 jobs worldwide.

Many of the big banks are closing branches as they transition to online banking and via mobile phones and as customers turn to simpler ways of carrying out their transactions that do not require going to the bank in person.

HSBC said its decision reflected "the long-term change in the way customers are banking, alongside the bank's need to ensure a sustainable branch network for the future."

According to the lender, nine out of 10 of its customers now complete their transactions via the telephone, internet or smartphone and 99% of cash withdrawals are made at an ATM.

"Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future," Stuart Haire, HSBC UK's head of retail banking and wealth management said.

The bank also reassured that during the course of 2020 it would be investing almost ?34m in its branches, including "refurbishing and refreshing" 49 sites to bring them up to date.

About 46 jobs at 10 branches were at risk but a spokesman for the company said: "We will be supporting them to apply for other roles within HSBC." Staff at the other 17 branches will be redeployed to nearby outlets."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HSBC Market Data

Currency UK Pounds
Share Price 619.00p
Change Today 4.00p
% Change 0.65 %
52 Week High 659.00
52 Week Low 549.70
Volume 18,531,649
Shares Issued 18,964m
Market Cap £117,385m
RiskGrade 167

HSBC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.39% above the market average93.39% above the market average93.39% above the market average93.39% above the market average93.39% above the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Price Trend
46.51% above the market average46.51% above the market average46.51% above the market average46.51% above the market average46.51% above the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Income
95.71% above the market average95.71% above the market average95.71% above the market average95.71% above the market average95.71% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Growth
62.15% above the market average62.15% above the market average62.15% above the market average62.15% above the market average62.15% above the market average
29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average29.41% above the sector average

What The Brokers Say

Strong Buy 5
Buy 5
Neutral 4
Sell 3
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HSBC Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 07-Mar-24 09-Nov-23
Paid 25-Apr-24 21-Dec-23
Amount 31.00¢ 10.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
16:39 1,000 @ 619.00p
16:39 500 @ 619.00p
16:39 500 @ 619.00p
16:39 500 @ 619.00p
16:39 28,036 @ 619.00p

HSBC Key Personnel

CEO Noel Quinn

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