News Release: HAMILTON, Bermuda – HSBC Bermuda advised today that effective immediately the HSBC Church Street branch will be available for by-appointment safe custody services only and that effective June 30, 2022, the HSBC Church Street branch would close operations permanently.

Staff working at that location will be redeployed to support the Harbourview Center, St Georges & Somerset branches, which remain open for business as usual.

The Bank noted that by redeploying their Church Street staff to other branches and roles within the Bank, the closure provides increased capacity for quality face-to-face services in the remaining three (3) locations. Customers requiring teller and account opening services will be redirected to one of these branches.

Tanya Bule, Head of Wealth, Personal Banking and Marketing stated: “Our goal is to modernize and digitize our customer service offer as our clients increasingly move away from cash-intensive, in-person transactions, towards always-available, digital banking channels.

“We’ve recently completed the first phase of refreshing the layout of the Harbourview Branch, to better direct customers and encourage the use of digital solutions, such as tablets and dedicated internet banking stations. Further work to improve the layout and service functionality will continue throughout 2022 to support the increased customer footfall on a permanent basis.”

Safe custody holders at the Church Street branch will be provided with guidance on the steps required to close their safe custody box and, where desired, reopen one at the Harbourview location.

The Bank also advised it would consolidate some of their banking teams currently at the Compass Point building into the Harbourview Center location. Available space in the Compass Point building would subsequently be made available for lease to commercial tenants.