Santander to Close Branches in U.S. and UK

Santander is closing 18 branches in the U.S. Northeast this summer as part of a shift toward a nationwide digital banking strategy, reducing its U.S. network by about 4.5%. This follows a recent decision to close 95 branches in the UK, roughly one-fifth of its UK footprint, similarly motivated by increased digital banking adoption. Other major UK banks, including Lloyds, Halifax, and NatWest, are also accelerating branch closures, citing declining in-person transactions and a surge in online banking usage. Santander's UK closures will put around 750 jobs at risk, with some remaining branches converting to new formats such as work cafes or adopting reduced hours. The trend is part of a wider industry pattern, with over 6,000 UK branches closed since 2015 as banks adapt to changing customer needs. Efforts are being made to offer new roles to affected employees, but the overall high street banking presence continues to decline.