SANTANDER PLEDGES NO BRANCH CLOSURES UNTIL 2028

Santander UK has committed not to close any additional branches across its network or that of recently-acquired TSB before 2028. The pledge was announced by chief executive Mahesh Aditya on 22 July 2026, following the bank's half-year results. The commitment will maintain 305 Santander branches and 175 TSB branches across the UK. This announcement comes despite the bank having already earmarked 44 closures for this year, which will put 291 jobs at risk.

The promise follows Santander's completion of its £2.65 billion acquisition of TSB in May 2026. Mr Aditya stated that branches remain "an important part of our strategy" and said the bank aims to combine digital services with in-person support. Santander is targeting at least £400 million in savings by the end of 2028 through increased use of artificial intelligence and automation. The bank reported a 31 per cent fall in pre-tax profits to £528 million for the six months to 30 June 2026, with bad debt charges rising by £173 million.

The move aligns Santander with commitments made by rival banks. NatWest has pledged not to close branches until 2029, whilst HSBC made a similar commitment until 2027. Nationwide holds the largest branch network among UK banks and committed in late 2025 to keep all 696 Nationwide and Virgin Money branches open until at least 2030. Industry observers have noted that major banks have significantly trimmed their networks in recent years even as they make these pledges.