Link Securities | Yesterday morning, the bank announced the closure of 44 branches in the United Kingdom as part of its strategy to adapt its network to demand, which is shifting towards greater use of digital platforms while customer footfall in branches continues to decline. In addition, 291 people will be affected, although some will be offered redeployment in jobs with different profiles. The bank has explained that the closures will be offset by service from other branches or from so-called banking hubs, which tend to provide ad hoc services for more basic needs in certain towns. This decision comes as the bank expects to complete the £2.65 billion (approximately €3.06 billion) purchase of TSB in the coming weeks. Banco Sabadell’s (SAB) British subsidiary has a network of 218 branches and other customer service points, and some 5,000 employees, on whom SAN will have to make a decision.
Banco Santander to close 44 UK branches and provide services from other branches or through “banking hub”
