HSBC is to provide local banking services in Post Office branches in five locations on the Isle of Man, the Isle of Man Today website reports.
The new service is being launched in response to demand from customers, who have had to travel long distances to reach a branch, the IoM Today said. The bank already has branches in Douglas, the Isle of Man’s capital, and Ramsey.
The five locations for the HSBC in-Post Office branches are Laxey, Peel, Castletown, Port Erin and Ballasalla, according to the website.
HSBC, the UK’s largest banking group, announced cutbacks to its offshore operation earlier this year, following a global review of operations. Last month it also said it might have to let go of 86 employees from its Jersey, Isle of Man and other overseas operations.
In an announcement in April, the company said it would retain its retail, commercial and private banking businesses on the Isle of Man, noting that its banking operations there had been performing well.
