HSBC to close down seven branches in Malta

epa07543895 (FILE) - A Hongkong Shanghai Banking Corporation (HSBC) bank logo at a branch in London, England, 25 March 2009, reissued 03 May 2019. HSBC reported on 03 May 2019 a profit after tax up 31 percent to 4.9 biliion US dollars or 4.39 billion euros for the first quarter of 2019 up from the first quarter of 2018. EPA-EFE/ANDY RAIN

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HSBC announced on Thursday it would be closing seven branches in Malta and combine another two into a new Qormi flagship it will be open.

It also said it would be offering voluntary redundancy schemes.

The branches that will close by the end of the year are at Birżebbuġa, Cospicua, Fgura, Ħamrun, Marsascala, St Julian’s and St Paul’s Bay.

Balzan branch will also close and be combined into a new ‘flagship branch’ in Qormi, the bank said in a statement.

In an announcement on the Malta Stock Exchange, the bank said its plan was to increase its focus on digital banking services and to modernise its branch network.

See the full announcement here

HSBC said it would make a further company announcement in due course.

 

See also: HSBC cost-cutting drive threatens 10,000 jobs

 

Via The Times

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