HSBC Omagh branch set to close this summer

HSBC has announced the closure of its Omagh branch in a move seen as another dent to the local high street.

The branch is among 69 closures announced by the multinational bank.

In a letter sent to West Tyrone MLA, Daniel McCrossan, the bank said, “Within this group, we have taken the difficult decision to close the HSBC UK branch in Omagh within your constituency.

“I would like to assure you that the decision has not been taken lightly and reflects the need to maintain a sustainable branch network for the benefit of our customers. Over the past five years, the number of customers using HSBC branches has fallen by a third.

“Nine in ten customers’ contact with the bank is now completed via the telephone, internet or smartphone and 99% of cash withdrawals are made at an ATM.”

The branch is slated for closure in August.

The bank added, “Following the closure, we will automatically transfer the administration of customer accounts to our Portadown branch which is 33.3 miles away.”

Mr McCrossan has described the announcement “terrible news for Omagh”.

He said, “This is not cuts to balance the books. HSBC made $18.9 billion last year.

“In the last ten years, communities across Northern Ireland seen more than half of our High Street banks disappear, with more than 100 branch closures. This is the loss of vital financial services in urban and rural communities, making financial services less accessible, and having negative knock-on effects for the high street.”

The MLA said that local bank branches formed “important community assets”.