Tue, 01 Jul 2025

Tue, 01 Jul 2025 TSB name could disappear from UK in Santander deal

The bank is set to be integrated into Santander UK which has said there could be job cuts.

* Santander has agreed to buy TSB for £2.65bn, subject to Sabadell shareholder approval
* The deal would create Britain's third-largest bank by share of personal current accounts
* Branch closures and job cuts are likely, with 175 branches and 5,000 employees affected
* TSB will continue to use its current IT system until migration to Santander
* The takeover is expected to be completed in the first three months of 2026
* Santander has a track record of buying up UK banking brands and absorbing them into the business
* Ana Botin, executive chair of Santander Group, says the deal shows confidence in Santander's strategy and the UK market.
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