Santander UK – whose products include loans, mortgages, savings, and insurance – is closing 140 branches across the country throughout 2019.
The financial services firm said the number of transactions carried out through its branches has fallen by 23% over the past three years – a stark contrast to the 99% growth in those conducted via digital channels. With the nationwide network ‘reshaping’, Santander’s branch count in the UK will be reduced to 614.
According to the announcement, what will be left is a combination of larger branches with improved community facilities and smaller ones that use the latest technology. Also, through an investment of £55 million, a total of 100 Santander branches will be refurbished over the next two years.
“The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels,” noted Susan Allen, head of retail and business banking. “As a result, we have had to take some very difficult decisions over our less visited branches, and those where we have other branches in close proximity.
“We will support customers of closing branches to find alternative ways to bank with us that best suit their individual needs. We are also working alongside our unions to support colleagues through these changes and to find alternative roles for those impacted wherever possible.”
The branches to be shut are manned by nearly 1,300 staff members, around a third of which are expected to be redeployed by Santander. Meanwhile the company has published a full list of the affected branches, along with their respective closure dates, on its website.
The first to go, on April 25, are the Bathgate George Street, Bideford, Clitheroe, Corby, Eastcote, Gracechurch Street, Haslemere, Helensburgh, Oakham, and Queensway branches. Closing last, on December 12, are those on Edinburgh 194-196 Morningside Road, Guildford High Street, Leather Lane, Norwich St Stephens Street, and Nottingham 2 Clumber Street.
