About 750 jobs are at risk of redundancy at Santander UK as the high street lender announced another 95 branch closures and sweeping changes across its network.
The banking giant said it was shutting the branches in June, while also cutting hours across 36 sites and switching 18 to be counter-free.
Santander said it would be left with 349 branches, down from 444 currently, after the overhaul, which would include five so-called work cafes.
The move will put about 750 jobs at risk if the plans get the go-ahead after consultations with unions, the bank said.
A Santander UK spokesman 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 cafes, 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.’
The company added: ‘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.
Banking giant Santander has announced closures which put 750 jobs under threat
Santander customers are seen queuing outside a branch in Newcastle in August 2020
‘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’
Today’s announcement follows similar moves by banking rivals, shutting down branches and cutting jobs.
Lloyds Banking Group revealed in January it would close 136 high street branches – 61 Lloyds, 61 Halifax and 14 Bank of Scotland sites between May this year and March 2026.
The move came weeks after the finance firm shook up its business to allow customers of Lloyds, Halifax and Bank of Scotland to use stores across any of its brands.
Santander said today that the latest decisions follow a 63 per cent increase in digital transactions since 2019.
Financial transactions completed in branches are said to have fallen by 61 per cent in the same period.