Santander has confirmed it will not close any of its UK branches until at least 2028, including the newly acquired TSB sites. The bank purchased TSB for £2.9 million earlier this year and plans to gradually absorb the TSB brand into its UK operation, resulting in a combined network of 480 locations across the UK, including multiple in Wales.
Santander's commitment to branches
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."
Criticism from consumer advocates
Sam Richardson, deputy editor of Which? Money, argued that the pledge may be too little, too late. 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 communities
Richardson highlighted the impact on communities, particularly the elderly and vulnerable, who are forced to travel unacceptable distances to access basic banking services. He urged the UK Government to step in and safeguard remaining branches, saying: "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."
