From Yahoo Finance: 2025-05-08 08:14:00

Banco Santander is set to close six branches in Massachusetts and an additional 12 locations across the Northeast US, aligning with a trend of financial institutions reducing physical branches due to increased online banking. The Covid-19 pandemic has accelerated this trend, leading Santander to close several dozen branches between 2020 and 2023.

In response to changing customer preferences, Santander has been expanding its digital services, including the introduction of Santander Financial Centres. The bank, headquartered in Boston, currently operates 128 branches in Massachusetts and has seen significant growth in its US digital bank, Openbank, which reached $2bn in deposits by February.

Recently, Banco Santander announced the selling of 49% of Santander Polska to Austria’s Erste Group for €6.8bn ($7.7bn). In March, the bank also announced plans to close 95 branches in the UK, with those closures scheduled for June. Santander continues to refine its branch footprint and retail presence to better accommodate customers’ evolving needs.



Read more at Yahoo Finance: Santander to shutter 18 branches in US