Santander UK, the British unit of Spanish lender Santander, has announced plans to close 95 branches across the United Kingdom, putting 750 staff members at risk of redundancy. The decision is part of Santander UK's broader strategy to modernize its presence in the country, with the closures set to take effect from June 2025. The move will significantly reduce its branch network, which will now comprise 349 locations.
The updated network will include a diverse mix of branch formats. It will feature 290 full-service branches, 36 branches operating with reduced hours, 18 counter-free branches, and 5 Work Cafes. This restructuring aims to adapt to the evolving needs of customers and enhance the bank's operational efficiency.
"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," said a spokesperson for Santander UK.
Santander UK's current network will be considerably smaller following these closures. The shift reflects a strategic effort to modernize operations and better serve customers in a rapidly changing banking environment. The integration of different branch types, including Work Cafes, highlights the bank's commitment to providing flexible and innovative services.
This transformation comes amid a broader trend in the banking industry, where institutions are increasingly focusing on digital services and optimizing physical locations to meet customer demands effectively. The introduction of counter-free branches is part of this modernization initiative, aimed at streamlining services and enhancing customer experience.
The closure of these branches underscores the challenges faced by traditional banks as they navigate the balance between maintaining a physical presence and embracing digital transformation. For employees affected by the redundancies, Santander UK is likely to offer support and assistance during this transition period.