Santander has confirmed that it will not close any more branches until at least 2028, providing a reprieve for customers amid a wave of bank closures across UK high streets. The banking giant said it will keep all of its current branches open, including those from TSB, which it acquired earlier this year for £2.9 million. The TSB brand will be phased out and integrated into Santander’s UK arm, resulting in a combined network of 480 sites across the country.
Branches 'Important Part of Strategy'
Mahesh Aditya, chief executive of Santander UK, said: “I see branches as an important part of our strategy and do not intend to close any additional Santander or TSB branches before 2028 at the earliest.” The promise comes as many other banks have shut hundreds of branches, reducing access to in-person banking services.
Consumer Group Says Damage Already Done
While the announcement was welcomed by customers, Sam Richardson, deputy editor of Which? Money, argued that the worst of the closures had already occurred. He told the Express: “In the last decade, there have been widespread bank branch closures across the UK, with Santander alone shutting two-thirds of its branches since 2015. While this announcement will no doubt be good news for some Santander and TSB customers, the fact remains that the worst of the damage has already been done. After the cull of the last few years, many banks have relatively few branches left to close.”
Impact on Vulnerable Customers
Richardson highlighted the impact on communities, particularly the elderly and vulnerable, who are forced to travel unacceptable distances to access basic banking services. Campaigners have warned that older Brits are losing essential financial support and independence due to closures. Banks have said that those affected will still receive support through alternative means such as Banking Hubs and Community Bankers.
Calls for Government Action
Richardson also called on the Government to protect branches, stating: “It's vital the Government meets its commitment to introduce 350 new banking hubs in the next few years, and in the longer term, consideration should be given to legally protecting access to in-person banking services.”
