Photo- APStay informed with the latest business news, updates on bank holidays and public holidays. Santander UK's announcement on Wednesday that it plans to shut a fifth of its branch network has raised concerns about the bank's future in the UK. The move, which could result in around 750 job losses consist of the closure of 95 out of 444 branches by June.The bank which has faced speculation over its long-term presence in the UK, will retain 349 branches, including 290 full-service locations and 36 branches with reduced hours. "As a business, we must move with customers and balance our investment across all the places where we interact with them," said the bank. The bank employs approximately 18,000 people.Despite reports in January suggesting that Barclays had explored a potential offer for Santander UK's operations, the parent company reiterated last month that its UK unit remains a key part of its globally diversified business strategy and is not for sale.

Source: The Times March 19, 2025 10:23 UTC