Santander to close 44 UK branches as it prepares takeover of TSB

Santander will close 44 UK branches, putting about 291 branch-based workers at risk, and says the move follows a shift to digital banking while it awaits regulatory approval for its £2.6bn takeover of TSB.

Santander is announcing the closure of 44 UK branches and says the decision follows a rise in customers using mobile and online banking. The bank says about 291 branch-based workers are at risk as a result. The move comes as Santander prepares for a reported £2.6bn takeover of rival TSB. Santander also says it is waiting for regulatory approval and will begin consultations with unions. Key facts: - Santander will close 44 UK branches and says this reflects a shift toward digital banking. - The company reports about 291 branch-based staff are at risk of losing their roles. - Santander is awaiting regulatory approval for its announced £2.6bn takeover of TSB and says approvals are needed before takeover-linked operational changes. - The bank says it will consult with unions and contact customers who could be affected by the closures. Summary: The announced closures reduce Santander's physical branch presence and place a number of branch roles at risk, while the bank cites customer moves to online services. Santander is awaiting regulator approval for the TSB takeover and will consult with unions as it progresses the plans. Further operational changes tied to the takeover are undetermined at this time.