A HSBC bank in Hampstead is among 114 further branches to close in the face of declining footfall.

The bank said it is investing tens of millions of pounds in updating and improving its remaining branch network, which will total 327 after the new wave of closures.

Among those closing is the 122 Finchley Road branch, which will close August 15.

The decline in customers using branches has accelerated so much since the Covid pandemic that some of those closing are serving fewer than 250 people a week, HSBC said.

Usage of its mobile app has almost tripled since 2017, with the vast majority of transactions completed digitally.

Jackie Uhi, HSBC UK’s managing director of UK distribution, said: “People are changing the way they bank and footfall in many branches is at an all-time low, with no signs of it returning. Banking remotely is becoming the norm for the vast majority of us.

“The decision to close a branch is never easy or taken lightly, especially if we are the last branch in an area, so we’ve invested heavily in our ‘post-closure’ strategy, including providing free tablet devices to selected branch customers who do not already have a device to bank digitally, alongside one-to-one coaching to help them migrate to digital banking.”

Tulip Siddiq, Hampstead and Kilburn MP, said: "I am concerned to hear the news that the HSBC on Finchley Road will be closing next year, in addition to other recent bank branch closures in Hampstead and Kilburn.

"I am particularly worried about the impact of the closure on my disabled and elderly constituents who used the branch as their primary means of banking and are less able to make the move to online banking.

"We must ensure that those who need in person banking services continue to have access to them and I will be writing to HSBC about this news.

"This is an issue I have been pushing the Government on as Shadow City Minister, including through my amendment to the Financial Services Bill which would guarantee access to essential in-person banking services for communities which need them.”