Santander is closing one other 44 of its UK financial institution branches, placing almost 300 jobs in danger because it gears up for its £2.6bn takeover of rival TSB.
The Spanish-owned lender stated the closures had been as a consequence of an increase in digital banking after a push to get extra clients utilizing cell and on-line providers throughout the nation.
One in eight of Santander’s 349 branches is to shut, leaving the financial institution with 305 websites. Nonetheless, solely 244 of the remaining branches nonetheless present a full-range of providers, together with mortgage recommendation and in-person money and cheque deposits.
It should additionally go away 291 branch-based staff prone to shedding their jobs. Santander stated there can be an unspecified variety of various roles that employees may apply for and that it and would start consulting with unions because it pushes via its plans.
The financial institution stated it might contact probably susceptible clients who can be affected by the closures by telephone to assist them discover different methods to financial institution.
The choice to slash greater than 12% of its UK branches comes because the financial institution prepares for its takeover of TSB. The £2.6bn deal, which was introduced in July, has prompted fears of job cuts and department closures throughout the mixed group.
The takeover would make it the third largest UK financial institution by way of private present account deposits, behind Lloyds and NatWest. Santander must contemplate learn how to strip out duplicate roles and branches, and whether or not to scrap the 215-year-old TSB model, which may disappear from UK excessive streets.
TSB serves 5 million clients via its 175 branches and 5,000 employees. Santander UK has about 14 million clients served out of 350 branches throughout the nation, with 18,000 employees earlier than the newest job cuts.
A Santander UK spokesperson stated the financial institution was nonetheless ready for regulators to approve its takeover of TSB. These approvals can be wanted earlier than Santander may make any potential modifications to its operations in relation to the deal.
It’s also dealing with the prospect of a hefty compensation invoice linked to a motor finance scandal, with Santander UK having already put apart £295m to cowl potential payouts to automobile mortgage clients final 12 months.
In October, its outgoing chief govt, Mike Regnier, urged the federal government to intervene within the regulator’s plans for an £11bn compensation scheme, claiming present proposals may find yourself inflicting “important” hurt to shoppers, jobs and the broader economic system.
The Communication Employees Union, which represents Santander UK financial institution employees, stated it had raised considerations over the impression of department closures on employees and was “totally dedicated to minimising job losses”.
“We would like employees to be given retraining, reskilling and redeployment alternatives the place that is potential … We imagine Santander UK must be doing all the pieces it could actually to guard its workforce and the native economic system. We’ll stay engaged with the financial institution to assist our members obtain their desired outcomes.”
The 44 Santander branches which can be to shut
April 2026
Berwick-upon-Tweed, Northumberland (28 April)
Boston, Lincolnshire (28 April)
Evesham, Worcestershire (28 April)
Mould, Clwyd (28 April)
Ramsgate, Kent (28 April)
Woking, Surrey (28 April)
Bangor, County Down (29 April)
Bridgwater, Somerset (29 April)
Kirkintilloch, East Dunbartonshire (29 April)
Melton Mowbray, Leicestershire (29 April)
Newbury, Berkshire (29 April)
Scunthorpe, North Lincolnshire (29 April)
Tonbridge, Kent (29 April)
Might 2026
Bishop Auckland, County Durham (5 Might)
Gosport, Hampshire (5 Might)
Haverfordwest, Pembrokeshire (5 Might)
Huntingdon, Cambridgeshire (5 Might)
Pontefract, West Yorkshire (5 Might)
Welwyn Backyard Metropolis, Hertfordshire (5 Might)
Glengormley, County Antrim (6 Might)
Leyland, Lancashire (6 Might)
Mansfield, Nottinghamshire (6 Might)
Merthyr Tydfil, Mid Glamorgan (6 Might)
Northallerton, North Yorkshire (6 Might)
Ringwood, Hampshire (6 Might)
Andover, Hampshire 12 Might)
Bridgend, Mid Glamorgan (12 Might)
Enniskillen, County Fermanagh (12 Might)
Macclesfield, Cheshire (12 Might)
Stratford-upon-Avon, Warwickshire (12 Might)
Cwmbran, Gwent (13 Might)
Golders Inexperienced, north London (13 Might)
Heswall, Merseyside (13 Might)
Redditch, Worcestershire (13 Might)
Stranraer, Wigtownshire (13 Might)
Newton Abbot, Devon (19 Might)
Stafford, Staffordshire (19 Might)
Banbridge, County Down (19 Might)
Liskeard, Cornwall (20 Might)
Shirley, West Midlands (20 Might)
By finish of January 2027
