HSBC is planning five new megastores in city centers throughout the UK as part of a GBP400 million investment in its 1,500 strong network.
The megastores will have galleried upper floors for meetings, internet access and a coffee area. The banks will also have a dedicated area for small businesses. The multi-storied branches are so far planned for London, Birmingham and Leeds.
HSBC spokesman Richard Lindsay said that the initiative would change the whole rationale of the way people use branches. The bank is also planning a refit of 150 branches and will open another 50.
The move follows announcements from other banks that are investing in their branch networks. Barclays is rebranding and refitting its Woolwich outlets, while Halifax is also revamping its network. The bank is opening a total of 100 branches in the southeast, including 40 in London.