'Difficult decisions' as Santander shuts 140 branches in the UK
Santander UK (LSE: 44RS.L - news) is to shut 140 branches placing 1,270 jobs at risk - the latest bank to blame changing consumer habits for a wave of closures.
The lender said its decision was the result of more customers banking on digital platforms - resulting in less demand for its physical banking services.
It said that it was hoping to redeploy about a third of the number of staff affected and that it had consulted unions on the proposals.
The Spanish-based bank added that it would invest £55m refurbishing 100 branches to "focus on personal service,
convenience and community engagement."
Its head of retail and businss banking, Susan Allen, said: "The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels.
"As a result, we have had to take some very difficult decisions over our less-visited branches, and those where we have other branches in close proximity.
"We will support customers of closing branches to find alternative ways to bank with us that best suit their individual needs.
"We are also working alongside our unions to support colleagues through these changes and to find alternative roles for those impacted wherever possible."
Following the closures by the end of the year, Santander will retain a network of 614 branches with its customers also having the option to bank using the more than 11,000 Post Office sites across the UK.
Santander says transactions carried out at its branches have fallen by 23% in the past three years, while transactions online and on mobile phones have soared by 99%.
The bank is planning to spend £55m refurbishing 100 branches over the next two years - with a "focus on personal service, convenience and community engagement".
There has been a marked decline in bank branch numbers since the financial crisis as banks have invested in their digital operations and moved to save costs elsewhere.
A study by the consumer group Which? late last year suggested two-thirds of branch numbers had disappeared over the past 30 years - with just over 7,500 remaining.
All the big UK banks have reduced their exposure to the high street citing the drive for online and mobile banking - despite business groups crying foul on access to paying-in services and face-to-face service.
Scores of small towns have lost bank branches altogether in recent times, forcing small firms and customers - especially the elderly - into travelling long distances to access their money.
Commenting on Santander's announcement Gareth Shaw of Which? Money, said: "These closures will come as a blow
for all those who rely on access to traditional banking services across the UK, at a time when branches are disappearing at a rate of more than 60 a month.
"Despite the switch to digital ways of banking and paying, millions of consumers still need access to cash. It is vital for a regulator to be given responsibility for ensuring that people have access to the services they rely on."
:: The branches due to be closed this year (London branches identified by area or street name by Santander):
Aberdeen - George Street
Acton
Aldershot
Alloa
Amersham
Ammanford
Antrim
Axminster
Aylsham
Ballymoney
Bathgate
Belfast - Newtownards Road
Berkhamsted
Bideford
Birmingham - New Street
Birmingham - Acocks Green
Birstall
Boscombe
Brechin
Brixham
Broadstone
Burnley Briercliffe
Buxton
Chandlers Ford
Cheam
Clapham High Street
Cleethorpes
Clitheroe
Coalville
Cockermouth
Cockfosters
Colchester
Corby
Coventry
Crosby
Crouch End
Devizes
Didcot
Dorchester
Dorking
Driffield
East Sheen
Eastcote
Edinburgh - Leith Walk
Edinburgh - Morningside Road
Egham
Epping
Esher
Feltham
Fleetwood
Forfar
Four Oaks
Gainsborough
Gerrards Cross
Glasgow - Forge Shopping Centre
Glasgow - Springburn Shopping Centre
Godalming
Goole
Gracechurch Street (City of London (LSE: CIN.L - news) )
Guildford
Hadleigh
Haslemere
Havant
Heathfield
Helensburgh
Henley-On-Thames
Holt
Hythe
Keynsham
Kingswinford
Kirkcaldy
Knutsford
Lanark
Leather Lane (Holborn)
Leeds - Street Lane
Leicester - Evington Road
Leicester - Uppingham Road
Liverpool - Church Street
Llangefni
Ludgate Circus
Lymington
Manchester - Cross Street
Marylebone
Middleton
Monmouth
Morden
Newmarket
North Shields
Northwood
Norwich - St Stephens Street
Nottingham - 2 Clumber Street
Oakham
Otley
Oxted
Parkstone
Pembroke
Penarth
Plymouth - New George Street
Portobello Road (Notting Hill)
Portslade
Purley
Queensway
Ramsbottom
Rayners Lane
Reigate
Renfrew
Ripon
Romsey
Ryde
Selby
Selsdon
Shoreham
Shrewsbury
Sidmouth
Skipton
South Woodham Ferrers
Southend
St Andrews
Stanmore
Stowmarket
Swiss Cottage
Tavistock
Tonypandy
Totnes
Troon
Ulverston
Upminster
Wandsworth
Ware
Watford - Harlequin Centre
Wealdstone
West Ealing
West Kirby
Wetherby
Windermere
Wisbech
Woodley
Worcester Park
Workington
Yeadon