Overview
- Santander will close 14 more branches in August, including seven this week, as part of the 95-branch reduction announced in March.
- Once the plan is complete, the bank will maintain 290 full-service branches nationwide.
- Banks are supplementing branch cuts with community bankers, shared banking hubs and Post Office partnerships to maintain access for vulnerable and digitally excluded customers.
- Since February 2022, the FCA-backed LINK initiative has required banks to assess the impact of each closure, with 1,879 sites closed or earmarked so far.
- Santander UK has cut about 2,000 jobs to fund automation in its services and has signalled the possibility of further layoffs by year-end.