HSBC is set to close a number of branches across Hong Kong, the bank announced today. This decision comes as part of a strategic review of its retail banking operations in the region.

The bank cited changing customer preferences and the increasing adoption of digital banking services as key factors driving the closures. HSBC aims to streamline its physical presence while continuing to invest in online and mobile platforms.

Affected branches will be phased out over the coming months. HSBC has assured customers that it will provide ample notice and support during the transition. Alternative banking options, including online banking, mobile apps, and nearby branches, will be offered to ensure minimal disruption.

An HSBC spokesperson stated, “We are committed to serving our customers in Hong Kong and are adapting our network to meet their evolving needs. These changes will allow us to invest in the services and channels that are most important to them.”

The move reflects a broader trend in the banking industry, with many institutions reducing their physical footprint in response to the rise of digital banking.