HSBC to close 3 Somerset branches
HSBC has announced the closure of 3 more branches in Somerset.
The closures, which will be with effect from summer 2023, will be in Frome, Minehead and Wells. In the case of Wells the closure follows hot on the heals of the closure of the city’s Barclays branch.
Bank closures and the impact of them on rural communities are the lead story in the November Leveller in the article “Cashed Out”. Banks are not suffering from a lack of profits. But they are, we argue, suffering from a lack of understanding of their corporate social responsibilities.
If you want to get a flavour of how irrelevant banks like HSBC are to rural Britain, just take a look at their accounts. The pages reproduced below from the 2021 accounts demonstrate the extent to which the bank doesn’t “get” rural issues in Britain.