'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