Santander UK, a division of Banco Santander, has announced plans to close 95 of its 444 branches in the UK, putting around 750 jobs “at risk”.
Besides, the bank will modify the format of some branches, introducing 18 counter-free and 36 reduced-hours branches, along with 290 full-service branches and five Work Cafés.
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The affected sites will be supported by Santander Community Bankers, who will provide face-to-face support and attend local banking hubs.
The bank is expanding its Work Café concept, with two new sites opened and another to be announced.
These cafés offer co-working spaces, WiFi, and event spaces accessible to both customers and non-customers. Santander UK said it has invested tens of millions of pounds in refurbishing 99 branches, with 50 more planned for the coming year.
Despite the closures, 93% of the UK population will remain within nearly 16km of a Santander UK branch, the bank assured.
Customers can also use over 11,000 Post Office branches and 112 Banking Hubs nationwide.
Closing branches are all within 1.6km of the nearest Post Office, it added.
Santander highlighted that the latest decision comes amid a shift towards digital banking, with a 63% growth in its digital transactions since 2019.
The bank reported a 61% decrease in financial transactions completed in branches over the same period.
Additionally, 82% of current accounts have been opened digitally since 2019, while mobile banking users rose 56%. Mobile app transactions have increased by 89%, with mobile logins rising by 73% to 1.9 billion.
A Santander UK spokesperson said: “As customer behaviour changes, we are ensuring that our branches remain fit for the future. Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance. As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future.
“Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers. However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafés, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required.”
Santander UK has been at the centre of recent speculation regarding potential changes in its ownership.
However, last month, the Spanish parent dismissed reports of its UK retail division being up for sale.
