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Santander to close one in five branches

The Times reported on Santander’s plans to close a fifth of its high street network and make over 800 staff redundant because customers are increasingly switching to online banking. 140 Santander branches will close, leaving 614 remaining in the UK.

Nearly two thirds of bank branches across the UK have been lost in the past 30 years, according to the consumer group Which?. 

Jonathan Reynolds, the Shadow City Minister, said the decision was disappointing and would ‘damage local communities and high streets’. He added: ‘We have a duty to ensure there is basic banking infrastructure for all who need it.’

Santander has said that it will invest £55 million in refurbishing 100 of its remaining branches and emphasised that account holders can access banking services in more than 11,000 Post Office branches.

Full article:

→ The Times - Santander will close one in five branches as customers go online

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