British banking group HSBC is extending its commercial banking network in the UK and has launched the first of 80 business centres it plans to open in the next 18 months.

Dyfrig John, CEO of HSBC Bank opened the facility in Swansea, which is the first of the new 80-strong, £58.5 million commercial centre network.

The bank says the new network reflects a shift in banking habits as, in addition to traditional high street branches, business customers will now be able to make use of commercial centres.

The new centres feature business counters, 24 hour hole-in-the-wall paying-in machines, meeting and conference facilities and direct access to experienced specialist commercial managers. They will be found in retail, business and industrial parks.

Says John: "Feedback shows our commercial clients welcome a choice of traditional high street and out-of-town locations as well as online and telephone channels for their banking requirements.

"We're tailoring our services to the needs of companies in the 21st century by creating these stand-alone, made-to-measure centres in easily accessible locations alongside our comprehensive team of business specialists on the high street."

HSBC said in July that it was planning to open five new "megastores" in cities across the UK as part of a £400 million overhaul of its branch network.

The bank is looking for sites in London, Birmingham, Leeds and Scotland for the new branches which will cover around 35,000 square feet.

HSBC will also be changing the layout and appearance of almost all of its 1500 UK branches, making them more open-plan and creating space for meetings, Internet access and coffee bars.

The group is expected to open the first of the new "megastores" in 2007.

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© Finextra Research 2006