ANOTHER high street bank is pulling out of Bingley with HSBC to shut its doors this summer in what the town's leaders have branded a "short-sighted decision".

All customers at the branch have been sent letters telling them administration of their accounts will now take place four miles away in Keighley.

And in an explanatory letter received by Shipley MP Philip Davies, HSBC senior area director Mike Swift states: "We have made this decision with great reluctance, but after a careful analysis of the bran's commercial viability it was clear that it is no longer generating the custom necessary to justify its continued operation.

"Customer banking habits have changed dramatically in recent years with many using branches where they work or using telephone and internet banking.

"Unfortunately that means we sometimes have to close branches to ensure our network remains fit for purpose."

Conservative MP Mr Davies said it was "very sad news".

"I am disappointed as I think it ignores the fact of all the things that are happening to redevelop Bingley such as the old Bradford & Bingley site and the opening of the new Aldi," he said.

"The economic prospects for Bingley are very good indeed and this is a short-sighted decision."

The latest closure comes a year after Yorkshire Bank pulled out of the town and Councillor Mark Shaw (Con, Bingley) said it was a shame that HSBC had not chosen to remain and adapt to people's needs.

"Other financial institutions such as Santander have managed to move with the times and stay in Bingley and it's sad to see another vacant property coming on to Main Street," Cllr Shaw said.

Howard Martin, of Bingley Chamber of Trade, said if HSBC had waited until after Aldi opened and redevelopment of the former B&B headquarters site had taken place they would have a completely different economic picture.

"I'm sorry to see them go, it makes life a little more difficult.

"I hope local people with HSBC business accounts close them and open with another bank that has faith in Bingley," Mr Martin said.

A spokesman for HSBC said: "In common with other high street banks, footfall in our branches has fallen dramatically and is accelerating.

"We have seen almost a 40 per cent reduction in customer footfall over the last four years.

"It is never a decision we take lightly, but on occasions this has meant we have needed to close a branch and our Bingley branch is a case in point.

"Decisions like this are never easy, but we are working with the small number of customers who use the branch to help them reorganise their finances ahead of the closure on Friday, August 7.

"The members of staff who man the branch will transfer to other HSBC branches in the area."