HSBC To Close 13 Bank Branches In Malaysia, Expand Digital Banking
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HSBC Bank Group will be closing down 13 of its bank branches in Malaysia by the end of the year, in line with its plans to expand its digital banking presence and reduce its branch footprint.

“HSBC is now focusing in investing to transform for the future of banking via digital enablement and as part of this transformation, 13 of our bank branches will be closed on Dec 31, 2021,” said HSBC Bank Malaysia in an email to Bernama.

“Customers can continue to conduct their banking transactions via the nearest branch, ATMs, telephone banking, or our Digital Banking platforms such as HSBC Malaysia Mobile Banking App or HSBC Online Banking,” the bank stated.

(Image: Bernama)

HSBC reiterated that it remained committed to its business in Malaysia, highlighting HSBC Malaysia’s US$250 million investment in its new Malaysian headquarters in the TRX financial hub as a reflection of this commitment.

The group had also committed an investment of US$40 million between 2021 and 2023 to equip its branches with new technology and digital capabilities, in addition to the US$18 million that was invested from 2018 to 2020 to develop innovative branch formats and new ways of serving customers.

According to HSBC, the commitment involves creating more than 200 new roles to adapt to the evolving banking landscape and redeploying its people into these new roles via upskilling of local talent. “We have a long history of over 130 years in the country and plan to continue serving our customers and investing in our people, network, and businesses,” it concluded.

Earlier this month, the National Union of Bank of Employees (NUBE) had protested against the planned implementation of a voluntary separation scheme and mutual separation scheme by HSBC Malaysia. The schemes were announced as part of HSBC’s branch restructuring and closure plans.

(Source: Malay Mail)

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