The HSBC bank has announced that Tavistock will be among the 82 branches closing in a new restructure.

The Tavistock branch is due to close on June 25.

A spokesperson for the firm told the Times: ‘We aim to redeploy all customer service colleagues who are impacted by these branch closures into suitable nearby locations.’

In a statement HSBC UK said it had set out plans to change its branch network to reflect local market trends, customer behaviour and branch usage. Following a number of successful pilots, HSBC UK will be evolving its branch network to ensure its branches are fit for the long-term future.

’The evolution of its network, which continues to bed down the vision set out in 2020 to become a market-leading digital bank, will lead to further significant investment and the creation of four distinct branch formats, designed to provide local areas with the banking facilities that best suit customer needs, based on detailed analysis of customer behaviour. 

’As part of the plans and following a detailed review, there will be a reduction in the number of branches, with 82 closing in 2021, bringing the total number of branches to 511. The closures will be phased throughout the year, but this announcement will bring clarity to colleagues and customers of the bank.

’Of the branches selected for closure, 81 are within one mile of a post office, where customers can carry out day-to-day transactions, two-thirds are within five miles of another HSBC branch and nine in ten are within 10 miles.’