Overview
- Santander UK has cut more than 2,000 roles this year as part of its ongoing simplification and automation drive.
- Half-year results show a 5% drop in pre-tax profit to £764 million and a 5% rise in net interest income to £2.22 billion.
- Santander UK has closed 95 branches, converted multiple outlets to counter-free formats and introduced community bankers at reduced-hours sites.
- The bank set aside a £295 million provision for a motor finance commission mis-selling scandal and is awaiting a Supreme Court judgment that could require adjustments.
- Banco Santander’s £2.65 billion takeover of TSB is expected to complete in early 2026 pending shareholder and regulatory approval, with further redundancies possible.