Santander has just confirmed it will permanently close 111 bank branches in the UK.
It said the coronavirus pandemic has caused changes in customer behaviour, driving them toward online banking.
The 111 branches to be targetted in the cull are mainly the smaller town operations.
The Spanish owned bank has been a popular choice for many UK residents after launching in the UK, enticing customers away from British owned banks with preferential interest rates and saving plans.
A banking insider this morning, who has worked at the Spanish organisation said: ” It’s business as normal but the bank has to cull 111 branches as they are no longer cost-effective, the 111 that will go are the branches in the more rural locations”
It’s understood staff will be offered redundancy packages or deployed to other remaining branches.
This is a breaking news story with more to follow.
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