// Santander to close 111 sites as customers prefer online banking
// The lender said Covid-19 has led to disruption
// The closures put 840 jobs at risk
Santander has announced it will shutter 111 branches, putting 840 jobs at risk as customers increasingly lean towards online banking.
The banking company said the majority of the sites set to be closed will have another branch within three miles.
It expects to retain a “significant” number of the staff affected.
Santander said the Covid-19 pandemic has affected footfall and its decision to cull stores will take place at the end of August – which will leave it with 452 high street sites.
The company charted a 33 per cent fall in branch transactions in the two years before the virus crisis. It reported a further decline of 50 per cent last year.
Its plans also included a major cutback in its office space requirements, which it said was based on staff feedback related to working from home during the pandemic.
“Branch usage by customers has fallen considerably over recent years so we have made the difficult decision to consolidate our presence in areas where we have multiple branches relatively close together,” Santander head of branches Adam Bishop said.
“We will provide every support to 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.”
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