HSBC Shirks Social Responsibility, Some Say
‘People queue out of the door. It’s great for me because it increases the trade in my shop. If the branch goes, people will go to Hessle or into the city centre to get cash and shop, and that will affect trade. Slowly, all the banks are pulling out of suburbs and when they do, it kills off communities.’
HSBC closed 52 branches last year, 40% of which were in inner city communities and poorer rural areas. Derek French, director-general of the Campaign for Community Banking Services, says the move is symptomatic of the bank’s keenness to relocate branches in more affluent areas, shopping centres, and retail parks.
‘Banks such as HSBC are closing small suburban and rural branches, claiming lack of profitability,’ he says. ‘They are shirking their social responsibility.’
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