Banking giant Santander has revealed plans for further cost-cutting in the UK as part of a wider group target to save another 1.2 billion euros (£1.02 billion) a year. Banking giant Santander has revealed plans for further cost-cutting in the UK as part of a wider group target to save another 1.2 billion euros (£1.02 billion) a year. Spanish owner Banco Santander is set to cut around 1 billion euros (£854 million) in costs across its European operation and around a 10th of that, or 100 million euros (£85 million), in its UK arm. It comes after Santander UK announced in January that it is to close 140 branches in the UK, putting more than 1,200 jobs at risk. But the high street lender sought to assure that the new cost savings will not lead to more UK branch closures or job losses.

Source: Irish Independent April 03, 2019 09:56 UTC