(qlmbusinessnews.com . Mon 24th Mar, 2025) London, UK —
“UK Banking Shake-Up: Santander Slashes Branch Network by Nearly 25%”
Santander has announced plans to close 95 branches across the UK, potentially putting 750 jobs at risk, as the bank accelerates its shift towards digital banking. This move will reduce its network from 444 to 349 branches, with additional changes including reduced operating hours at 36 locations and the removal of front counters at 18 stores.
In response to the growing trend of online banking, Santander has introduced a plan to deploy “community bankers” who will visit local areas—such as libraries—to provide essential banking services to customers in regions where branches are closing. While the bank is keen to assure customers that cash access will be maintained, the decision has sparked criticism among MPs and consumer groups, who warn that rural areas could be particularly disadvantaged.
Consumer group Which? has described the closure of almost a quarter of Santander’s branches as a “real blow” to many customers, emphasising that access to cash is crucial for everyday transactions and budgeting. The government is also under pressure to ensure that banks set up the promised 350 banking hubs by 2029, with calls for even faster rollouts.
Amid these changes in the banking sector, Santander’s decision follows a similar trend seen across the industry – Lloyds recently announced the closure of 136 branches in January. Despite these closures, Santander’s UK unit remains not for sale, and the bank continues to invest in alternative customer access points, such as its “work cafés,” with recent openings in London.
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