Santander closing 140 branches

 

SPANISH-owned bank Santander is slashing its branch network by almost a fifth, putting 1,270 jobs at risk.

The bank blamed the closures on “changes in how customers are choosing to carry out their banking”.

It said branch transactions have fallen 23% in the last three years, while digital transactions have soared 99%.

“We have had to take some very difficult decisions over our less visited branches,” said Susan Allen, head of retail and business banking.

The bank said its remaining network of 614 branches will be made up of larger branches offering improved community facilities and smaller branches using the latest technology to offer more convenience.

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