Santander UK halts branch cuts until 2028
Santander UK has announced it will not close any additional branches in its own network or that of recently acquired TSB before 2028. CEO Mahesh Aditya stated that branches remain an important part of the bank's strategy, committing to keep 305 Santander sites and 175 TSB sites open for at least another 18 months. The decision follows a previous round of closures earlier in 2026, which saw 44 locations marked for closure and 291 roles at risk. Aditya, who succeeded former CEO Mike Regnier on March 1, emphasized combining digital services with personal support. The move comes after Santander completed its £2.65bn purchase of TSB from Sabadell in May 2026, following regulatory clearance. The acquisition aims to help Santander UK raise its return on tangible equity to 16% by 2028. The bank also plans to invest in modernizing its network and introducing new Work Cafes.
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