Santander UK has announced the closure of 44 of its bank branches across the country, putting almost 300 jobs at risk as the lender gears up for its planned £2.6bn takeover of rival TSB. The move reflects a broader industry trend towards digital banking, with the Spanish-owned bank citing a significant rise in customers using mobile and online services.
Impact on Branches and Staff
The closures will affect one in eight of Santander's 349 UK branches, reducing its network to 305 sites. However, only 244 of these remaining branches will offer a full range of services, including mortgage advice and in-person cash and cheque deposits. This decision leaves 291 branch-based workers facing potential redundancy.
Santander has stated that it will provide an unspecified number of alternative roles for affected staff to apply for and will begin consultations with unions to manage the transition. The bank also plans to contact vulnerable customers impacted by the closures by phone to assist them in finding alternative banking methods.
Takeover and Regulatory Hurdles
The branch cuts come as Santander prepares for its acquisition of TSB, a deal announced in July that has raised concerns about further job losses and branch closures across the combined entity. A Santander UK spokesperson confirmed that the bank is still awaiting regulatory approval for the takeover, which is necessary before any operational changes related to the deal can be implemented.
If approved, the takeover would position Santander as the third-largest UK bank in terms of personal current account deposits, trailing only Lloyds and NatWest. This consolidation will require Santander to evaluate duplicate roles and branches, and potentially phase out the 215-year-old TSB brand from UK high streets.
Broader Context and Challenges
TSB currently serves 5 million customers through 175 branches and 5,000 staff, while Santander UK has approximately 14 million customers across 350 branches and 18,000 employees prior to these latest job cuts. The merger highlights ongoing pressures in the banking sector, including the shift to digital platforms and cost-cutting measures.
In addition to the takeover, Santander UK is contending with a substantial compensation bill linked to a motor finance scandal, having set aside £295m last year for potential payouts to car loan customers. Former chief executive Mike Regnier has also called for government intervention in regulatory plans for an £11bn compensation scheme, warning that current proposals could harm consumers, jobs, and the economy.
List of Closing Branches
The 44 branches scheduled for closure are spread across various locations in the UK, with dates set for April and May 2026, and a few extending into early 2027. Key closures include:
- Berwick-upon-Tweed, Northumberland (28 April 2026)
- Boston, Lincolnshire (28 April 2026)
- Mold, Clwyd (28 April 2026)
- Bangor, County Down (29 April 2026)
- Newbury, Berkshire (29 April 2026)
- Bishop Auckland, County Durham (5 May 2026)
- Haverfordwest, Pembrokeshire (5 May 2026)
- Glengormley, County Antrim (6 May 2026)
- Merthyr Tydfil, Mid Glamorgan (6 May 2026)
- Golders Green, north London (13 May 2026)
- Leighton Buzzard, Bedfordshire (by end of January 2027)
- Wilmslow, Cheshire (by end of January 2027)
The Communication Workers Union (CWU), which represents Santander UK staff, has been approached for comment on the closures. This development underscores the evolving landscape of UK banking, driven by technological advancements and corporate consolidation.
