HSBC has announced it is closing its Greenwich branch as part of UK-wide plans to axe 27 high street stores, putting nearly 50 jobs at risk.

Staff in 10 branches, employing 46 people between them, could face losing their jobs due to the closures just weeks after Lloyds, Halifax and the Bank of Scotland announced plans to close 56 outlets across the UK.

But those working at the other 17 branches earmarked to shut will be moved to other roles at nearby HSBC sites, the bank told the PA news agency.

The bank will also be investing nearly £34 million in its remaining 594 branches this year, and will refurbish 49 of them.

The Greenwich branch, along with Croydon Wellesley Road and London Regent Street, is one of the banks earmarked to close later in 2021, but its staff will likely keep their jobs and be moved to a nearby store.

Lewisham and Croydon North End have been selected as one of the lucky branches which will be refurbished within the first half of 2020.

The announcement comes as customers turn to other forms of banking, making them less reliant on using a branch, the bank said.

HSBC said nine in 10 contacts with customers now happen over the phone, via the internet or on its smartphone app, with the number of customers who use a branch falling by a third in the last five years.

"Retaining a sustainable branch network is extremely important to us and we need to ensure it is fit for the future," said Stuart Haire, HSBC UK's head of retail banking and wealth management, said.

"But, the way our customers bank with us has changed significantly over the last five to 10 years, and that change is something we cannot ignore."

Only one in every 100 cash withdrawals are made in branch at an HSBC.

The first closures will be made in early July, with branches in London, Bristol, Swindon and Leigh-on-Sea set to be axed.

HSBC customers will still be able to bank in Post Office branches across the country.

Mr Haire added: "Almost every industry is affected by similar behavioural change and needs to work hard to address that - newspapers used to be delivered by paper boys and girls, or a paper would be collected from a shop, and now most people consume their news online.

"Photographs that were once processed in a shop have now been replaced with digital cameras and online delivery."

Earlier this month, HSBC said its global headcount would be reduced by 35,000 over the next three years.

This would include "meaningful" cuts in the UK, where it employs 40,000 people.

Earlier this year, Lloyds also announced it was closing stores in Belvedere and Blackheath.