THE Redditch branch of HSBC has avoided closure after the bank announced a number of stores were being closed.

The bank has announced that it is closing 62 stores in 2017 with up to 180 redundancies likely, although the bank hopes to redeploy some staff at other local branches.

The bank said it has no intention of closing any more branches in 2017, which means that the Redditch branch on Church Green West is safe for the time being.

HSBC say the closures are due to the increasing digitalisation of banking and the number of customers using branches has fallen by nearly 40 percent nationally.

Francesca McDonagh, HSBC head of retail banking and wealth management for UK and Europe, said:

“The way our customers bank with us is changing. More customers are using mobile and internet banking than ever before, innovation such as Touch and Voice ID has proved extremely popular, and fewer people are using branches.

"More than 90 percent of our interactions with customers are now through our digital channels, an increase from 80 percent last year.

"93 percent of customers’ contact with the bank is now completed via the telephone, internet or smartphone, and 97 percent of cash withdrawals are made via an ATM."

Ms McDonagh added: “The decision to close these branches ensures a more sustainable branch network for the future as we continue to invest in our digital platforms and our people.

"We will have fewer but better branches, with more empowered front line colleagues using a greater range of technology to support all our customers' needs."

The news comes after Studley's HSBC branch was closed last year.