Santander to Shut 95 UK Branches, 750 Jobs at Risk

Santander has announced plans to close nearly a fifth of its UK branches as part of a restructuring initiative, putting 750 jobs at risk. The bank will shut 95 of its 444 high street branches and reduce services or hours at more than 50 others by June, citing the need to adapt to customers' changing banking habits.

Despite previously stating in January that no permanent closures were planned for this year, Santander has now confirmed that 18 branches will become “counter-free,” while another 36 will operate with reduced hours. A bank spokesperson acknowledged the difficulty of closing branches but emphasized the importance of evolving to meet customer needs and balancing investments across various banking channels.

To support affected communities, Santander will introduce “community bankers” who will provide in-person assistance on a weekly basis and work with local banking hubs. After the restructuring, Santander’s UK network will consist of 349 branches, including 290 full-service locations, 36 with limited hours, 18 counter-free branches, and five “Work Cafés.” These Work Cafés, part of a global initiative, will offer coworking spaces, high-speed WiFi, and event areas to foster community engagement.

The bank cited a significant shift towards digital banking as a driving force behind the changes, reporting a 63% increase in digital transactions since 2019. During the same period, in-branch financial transactions declined by 61%. Additionally, over 20% of new current accounts are now opened online, and mobile banking usage has surged by 56%.

A Santander spokesperson explained that the updated branch network—including a mix of full-service locations, Work Cafés, counter-free sites, and branches with reduced hours—aims to strike the right balance between digital convenience and in-person financial guidance. Even after the closures, 93% of the UK population will remain within 10 miles of a Santander branch.

This announcement follows similar actions by Lloyds Banking Group, which revealed in January that it would close 136 additional branches. This includes 61 Lloyds branches, 61 Halifax locations, and 14 Bank of Scotland sites, with closures beginning in May and set to conclude by March next year.

Lloyds currently operates approximately 932 branches, but previous closures had already planned to reduce that number to 892 by the end of 2025. With the latest cuts, the total will fall further to 756 by March 2026, comprising 447 Lloyds Bank sites, 341 Halifax branches, and 104 Bank of Scotland locations.