TWO towns in Gwent are set to lose banks after closures were announced.

Tredegar and Newbridge are both set to lose branches of HSBC

The Tredegar branch of HSBC could close as soon as October, and residents and politicians alike are concerned the town is about to lose a much-needed facility.

The branch has been in its current location at Gwent Shopping Centre since 1992 and was previously based on Commercial Street.

HSBC said it was part of a constant monitoring process to assess if a branch is in the correct location, has an appropriate level of opening hours and reaches the high standard customers expect.

The branch employs three staff, who will not be made redundant if the branch closes and will instead be redeployed to other offices.

Tredegar Central and West councillor Haydn Leslie Trollope said: "I am very saddened and concerned by this. Worried residents and business owners who have banked with this branch of HSBC all their lives have contacted me and are really worried. For the older people in particular, they don't like to bank over the phone, they like to do it face to face, so what are the to do when the branch closes?"

Blaenau Gwent AM Alun Davies has responded to concerns by constituents and called for an urgent meeting with bank officials to urge them to reconsider.

He said: “Banks, post offices, green grocers, butchers – all these businesses are at the heart of our towns and we need to do all we can to keep them going.

“We need to working with big companies like this to bring them in to Blaenau Gwent, not sitting back and allowing them to close.”

HSBC said the Newbridge bank closure, earmarked for October 11, came after a significant drop in use in recent years

Staff from will be transferred to another branch, said the spokesman.

In May 2012 HSBC shut the Blaenavon bank down and in November 2012 shut their Caerleon branch, despite it being the only bank in the town.