Santander Reduces Branches in the UK
British press has speculated that Santander may pull out entirely from the country
- |
- Written by Banking Exchange staff
Spanish Bank Santander announced that it would reduce its full service branches in the United Kingdom noting a “rapid movement of customers choosing to do their banking digitally” with a 63% pick up in digital transactions since 2019.
The bank presently employs 18,000 full-time employees in the U.K.
While the British press including the Financial Times have speculated that Santander may pull out entirely from the country, the bank has repeatedly denied that is the case.
The UK’s unions still have a great deal of power in the country, which will make the cuts difficult.
Tagged under Management, Feature, Retail Banking, Feature3, Branch Technology/ATMs, Technology, Digital,
Related items
- Retail Banking Performance and Consumer Liquidity Trends Will Be Main Topics April 30
- Strong Week for Markets, Housing Data May Be Better Than Reported
- Cloud Based Payment Technology Provider Launches Enhanced Payments Hub for ACH
- OCC to Remove Dedicated Supervision for Community Banks
- Judge Scraps CFPB’s Rule to Cap Credit Card Late Fees
