HSBC has announced the closure of five more bank branches in 2013, with 20 more expected to be announced before October.

The bank has closed over 200 branches in the last three years, 70 of which were in 2012. HSBC attributes the need to shut branches to a shift in the way consumers access banking facilities.

The branches affected will be in Cumbria, Yorkshire, Dorset and Warwickshire. A spokesman for HSBC told the BBC that branch closures were a ‘last resort’ and the result of the shift to phone, internet and mobile banking.

Long-term trends

The UK has lost 40% of its banks and building societies since 1989, according to a study by Nottingham University, which revealed that 7,500 branches have been closed in that time.

RBS has closed 60 branches this year, with more closures expected to follow, whilst Barclays has shut 16. Lloyds Banking Group has said it will not be shutting any branches before 2015.

The nature of retail banking is changing rapidly, presenting new challenges to those working in the industry. Find out more about retail banking.

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