Consumer analysts are warning TSB customers are at risk of "losing banking access" as a result of Santander's takeover deal of the financial institution.
Yesterday, the Spanish-owned bank confirmed its £2.65billion acquisition offer for TSB, which would create the UK's third-largest banking group and serve approximately 28 million retail and business customers.
Sabadell, TSB's Spanish owner, has accepted the cash offer whilst defending itself against an €11billion hostile takeover attempt from domestic rival BBVA.
The deal marks a potential end to a banking name that has served British customers since Reverend Henry Duncan established the Trustee Savings Bank in Dumfriesshire in 1810.
TSB branches are at risk of closure, analysts warn
PASantander has stated it "intends to integrate TSB in the Santander UK group". Mike Regnier, Santander UK's chief executive, told the BBC: "We tend to use the Santander brand on the high street around the world".
The acquisition still requires approval from Sabadell's shareholders and UK regulators. Regnier acknowledged these hurdles, stating: "There's still a number of hurdles for us to get over, approvals from the shareholders of Sabadell, approvals from the UK regulator."
The TSB sale complicates BBVA's hostile takeover bid for Sabadell, with Sabadell CEO César González-Bueno telling analysts that the transaction "obviously makes the takeover bid more difficult".
The combined entity would generate cost revenues equivalent to £400million in pre-tax profits, according to Banco Santander's estimates.
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Santander is set to takeover TSB in a major deal PA Regnier explained: "We should be able to create efficiency savings of about 13 per cent of the combined cost base Santander and TSB. That will probably come from a number of areas."
Industry analysts have predicted the merger could result in approximately 100 branch closures, representing 20 per cent of the combined network.
Jefferies analysts noted: "We see the operational risk of the transaction as limited, given the similar, and vanilla, business models of the two entities, and believe the optimisation of the UK business is welcomed."
Jenny Ross, Money Editor at Which?, said: "This news could understandably be concerning for some TSB and Santander customers particularly those who prefer to use a local branch for their banking."
She emphasised the need for regulatory oversight: "If this deal goes ahead, the Financial Conduct Authority must look closely at any planned bank branch closures to ensure that FCA rules and guidance are followed, and that there is no risk of customers, especially those with disabilities, losing access to local banking services or cash."
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Bank branch closures are continuing throughout July 2025
GETTYHere is a full list of the areas with a TSB bank branch in the UK, which may now be at risk of closure:
- Aberdeen
- Aberystwyth
- Albrighton
- Alford
- Alton
- Amble
- Anstruther
- Arbroath
- Ashton In Makerfield
- Aylsham
- Aylsham
- Ayr
- Banff
- Barnstaple
- Basildon
- Bathgate
- Bedford
- Bedlington
- Berwick-upon-Tweed
- Beverley
- Biddulph
- Billingham
- Birmingham
- Bishop's Stortford
- Blackburn
- Blackpool
- Bluewater Retail Park
- Bo'ness
- Bolsover
- Bolton
- Bootle
- Bournemouth
- Bradford
- Bridport
- Brierley Hill
- Brighton
- Bristol
- Broughty Ferry
- Buckie
- Buckingham
- Burton-on-Trent
- Camberley
- Cardiff
- Carluke
- Chatham
- Chelmsford
- Cheltenham
- Chichester
- Chipping Norton
- Chorley
- Clydebank
- Coventry
- Crawley
- Crook
- Croydon
- Cumbernauld
- Dalkeith
- Darlington
- Derby
- Doncaster
- Dumfries
- Dundee
- Dunfermline
- East Kilbride
- Edinburgh
- Elgin
- Ellesmere
- Enfield
- Exmouth
- Falkirk
- Flint
- Fort William
- Fraserburgh
- Gainsborough
- Galashiels
- Glasgow
- Glenrothes
- Gloucester
- Glynneath
- Goole
- Grantown-On-Spey
- Great Dunmow
- Greenford
- Greenock
- Greenwich
- Grimsby
- Halesowen
- Hamilton
- Hanley
- Harlesden
- Harold Hill
- Harrow
- Hawick
- Hayling Island
- Hereford
- High Wycombe
- Holt
- Huddersfield
- Hull
- Huntly
- Ilford
- Inverness
- Inverurie
- Ipswich
- Irvine
- Jarrow
- Johnstone
- Keighley
- Kilbirnie
- Kilmarnock
- Kings Lynn
- Kingston upon Thames
- Kirkcaldy
- Kirkwall
- Lanark
- Ledbury
- Leeds
- Leicester
- Lerwick
- Lincoln
- Liverpool
- Livingston
- London
- Louth
- Luton
- Maesteg
- Maltby
- Malton
- Manchester
- Midsomer Norton
- Milton Keynes
- Minehead
- Montrose
- Morpeth
- Motherwell
- Murton
- Musselburgh
- Nantwich
- Netherfield
- Newcastle upon Tyne
- Newport
- Northampton
- Norwich
- Nottingham
- Oban
- Oldbury
- Oswestry
- Paisley
- Perth
- Peterborough
- Plymouth
- Portsmouth
- Prestatyn
- Preston
- Quedgeley
- Ramsey
- Rawtenstall
- Reading
- Redcar
- Romsey
- Rutherglen
- Sheffield
- Skegness
- Slough
- Smethwick
- Somerton
- South Shields
- Southampton
- Spalding
- St Andrews
- Stevenage
- Stirling
- Stonehaven
- Stornoway
- Stourport-on-Severn
- Stowmarket
- Stranraer
- Sunderland
- Swansea
- Swindon
- Tavistock
- Telford
- Tenbury Wells
- Tewkesbury
- Thurso
- Torquay
- Truro
- Tunbridge Wells
- Wakefield
- Wallington
- Walsall
- Wantage
- Warrington
- Watford
- Wellington
- West Bromwich
- Wick
- Wigan
- Witney
- Wolverhampton
- Workington
- Wrexham
- York.
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