Santander is to close a further 46 UK branches, reducing its branch network to 752 outlets. The latest closures follow the axing of 43 branches in 2017; Santander kicked off 2017 with 841 units.
In all, around 1,100 UK branches closed in 2017 with over one-half of the branches closed by RBS/NatWest; RBS closed 104 branches in Scotland with 403 NatWest branches closing in England and Wales.
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The UK’s largest retail bank Lloyds Banking Group kicked off 2018 closures with news that it will close 41 Lloyds and 8 Halifax outlets, reducing the Lloyds and Halifax networks respectively to 926 and 610.
Since RBI was first published in May 1981, more than 13,000 UK bank and building society branches have closed, the sector total reducing from over 21,000 to just over 8,000.
As a result of branch overlap and branch network rightsizing, Santander has now closed 436 branches – more than one-in-three – of the branches acquired in the UK following its acquisition of 741 Abbey National branches in 2004 and the 250 and 197 branch networks of Alliance & Leicester and Bradford & Bingley respectively, snapped up in 2008.
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