Santander to shut 44 more branches

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Santander is further trimming its branch network, closing 44 branches and putting 291 jobs at risk.

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The bank said the closures are in response to customers shifting to online and mobile banking channels.

It says 96% of all transactions are now being completed online, with more than 80% of accounts opened digitally. Mobile app transactions have shot up by 109% since 2019.

The latest round of cuts comes less than a year after the business announced plans to reduce its UK branch network by nearly a quarter, shutting 95 branches and putting 750 jobs at risk.

A spokeswoman for Santander says: “We will continue to invest in both our branch network – comprising of full-service branches, counter-free branches, reduced-hour branches, Santander Locals, and our increasingly popular work cafes – as well as our digital banking services, so we can be there to support our customers however they choose to bank with us.”

The move will reduce Santander’s high stret presence to 305 branches including community banking hubs.

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